Facebook (FB) Continues to Ramp; 'Short Squeeze' in Effect
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Shares of Facebook, Inc. (NASDAQ: FB) continue to march higher, in what some are now calling a short squeeze. The squeeze is happening despite a fresh 852 million Facebook shares freeing up to be sold in today's IPO lock-up expiration.
The latest data had 88 million shares short, or ~9% of the float before today's lock-up expiration. This short number likely climbed higher in recent days ahead of the expiration. Today's pop off the open likely brought out even more shorts. They are clearly feeling the pain today.
Shares of FB last traded at $22.25, up 12%.
The latest data had 88 million shares short, or ~9% of the float before today's lock-up expiration. This short number likely climbed higher in recent days ahead of the expiration. Today's pop off the open likely brought out even more shorts. They are clearly feeling the pain today.
Shares of FB last traded at $22.25, up 12%.
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