There looks to be a short squeeze on Metro Bank, which has been heavily shorted by Odey Asset Management. It could also be on a turnaround as a business - aside from its massive high street presence (which is under review) it is pretty well placed with happy customers and decent tech (none of the archaic systems of the old guard). What do people here think?
Who’s reporting this? Or is it reddit derived?
I haven’t seen any media reports yet
It seems to be organised by a very small group on Twitter and Telegram: https://twitter.com/Trade_March
Looks more like another pump and dump attempt. Feel like these are going to become more and more popular after this GameStop saga unfortunately!
Looking at short interest ODEY are only like 4% short. It doesn’t appear to be heavily shorted atm. If you look at disclosed short positions they have dropped significantly since Aug 2020 (10%)
It’s basically just ODEY and Voleon.
I would agree with @cosypyjamas that’s it’s just a small pump and dump.
Looking back it’s been steadily growing since November. It’s looking overbought on the shorter timeframes but daily it’s still bullish.
Green 50 EMA
Seems incredibly brazen to display your manipulation publicly. Not sure how much swing 916 members can achieve but seems to have created a few bag holders this morning.
On whale wisdom I’m seeing 3.29% disclosed as of 2021-01-07, not sure where 4.7% comes from?
Sounds like it is nothing more than gradual ongoing improvement in sentiment towards Metro Bank then
Have ODEY and Voleon covered their shorts yet?
Honestly soon theirs either going to be the end of hedge funds or the end of short selling as it’s so high risk.
Add this to their 30% loss this year