fintel's top Gamma Squeeze candidate
Updated
Here's a name most have probably never heard of that has potential for 285% underlying return. THCA (Tuscan Holdings Corp. II) "intends" to merger, share exchange, asset aquisition, stock purchase, recapitalization, reorganization, etc., with business entities in the cannabis industry. It is likely so heavily shorted because from what I can gather, they have really only stated intent and not demonstrated anything material in the Cannabis sector (if I'm wrong correct me, its such an obscure operation really not much on it). But they are active it seems, the 2 main news headlines I can find recently are: "Surf Air Mobility to go public through 1.42B merger w/ Tuscan Holdings Corp II, accelerating rollout of industry leading hybrid electric aircraft...," and "THCA gets non-compliance notice from Nasdaq" --- which is pretty bad@** right?
Take a look at this short data:
Short Interest Ratio: 2.26 Days to Cover
Short Interest % Float: 54.63% - source: NASDAQ (short interest), Capital IQ (float)
Off-Exchange Short Volume: 8,916 shares - source: FINRA (inc. Dark Pool volume)
Off-Exchange Short Volume Ratio: 24.26% - source: FINRA (inc. Dark Pool volume)
Short % inclease/decrease: +28%
Net Call OI % Float: 186.21%
There are 2 catalysts I see that could get this going enough to trigger a hefty squeeze:
1. THCA reports progress on the Surf Air merger, OR they simply announce some new merger(s), etc.
2. They get the kickstart (without doing anything) indirectly in this market environment - I think this is a very dangerous market environment for shorts righ now in general. Everyone who doesn't know elliot wave thinks BTC and S&P and going to crash, there is so much FUD going on its actually hilarious (when in reality wave 5 is about to start for BTC and S&P taking them to new ATH by end of 2022/early 2023... when this begins (soon), heavily shorted names like THCA will take off on a spaceX rocket to the moon. BIg players like TSLA, GME, BYND (oh you're in for a treat, the setup and catalyst are in the bag baby) are already threatening its squeeze-time kicking off as early as next week.
On my chart I listed 3 targets:
- initial target = 11.50 is near-term w/ or w/out a squeeze, just based on the chart and statistics of the price action dynamics
- intermediate target = 16.28 is mid-term even without a squeeze unfolding (just using the proportional increase in successive pops and extrapolating accordingly)
- minimum squeeze target = 20.20 - and that is conservative, based on the short data if it gets going it could pop to 32-40 (it then becomes a fast sell at those levels)
*** This is a high reward/low risk play here because its essentially traded at 10 its whole public history, on average, and I see 10 as support (so risk ~ 38 cents hah)
Not financial advice but I'm playing shares and Nov 18 2022 10.00 calls for ~ 1.00 and looking to sell at ~10.00 when it hits 20.20.
Clear Vision, cloudy eyes.
Regards,
Billy Walters Jr.
Take a look at this short data:
Short Interest Ratio: 2.26 Days to Cover
Short Interest % Float: 54.63% - source: NASDAQ (short interest), Capital IQ (float)
Off-Exchange Short Volume: 8,916 shares - source: FINRA (inc. Dark Pool volume)
Off-Exchange Short Volume Ratio: 24.26% - source: FINRA (inc. Dark Pool volume)
Short % inclease/decrease: +28%
Net Call OI % Float: 186.21%
There are 2 catalysts I see that could get this going enough to trigger a hefty squeeze:
1. THCA reports progress on the Surf Air merger, OR they simply announce some new merger(s), etc.
2. They get the kickstart (without doing anything) indirectly in this market environment - I think this is a very dangerous market environment for shorts righ now in general. Everyone who doesn't know elliot wave thinks BTC and S&P and going to crash, there is so much FUD going on its actually hilarious (when in reality wave 5 is about to start for BTC and S&P taking them to new ATH by end of 2022/early 2023... when this begins (soon), heavily shorted names like THCA will take off on a spaceX rocket to the moon. BIg players like TSLA, GME, BYND (oh you're in for a treat, the setup and catalyst are in the bag baby) are already threatening its squeeze-time kicking off as early as next week.
On my chart I listed 3 targets:
- initial target = 11.50 is near-term w/ or w/out a squeeze, just based on the chart and statistics of the price action dynamics
- intermediate target = 16.28 is mid-term even without a squeeze unfolding (just using the proportional increase in successive pops and extrapolating accordingly)
- minimum squeeze target = 20.20 - and that is conservative, based on the short data if it gets going it could pop to 32-40 (it then becomes a fast sell at those levels)
*** This is a high reward/low risk play here because its essentially traded at 10 its whole public history, on average, and I see 10 as support (so risk ~ 38 cents hah)
Not financial advice but I'm playing shares and Nov 18 2022 10.00 calls for ~ 1.00 and looking to sell at ~10.00 when it hits 20.20.
Clear Vision, cloudy eyes.
Regards,
Billy Walters Jr.
Note
Interesting.. BZ newswire posted a top 5 squeeze candidates yesterday on Think or Swim news feed and included Tuscan in the top 5 - here is what they said:"Tuscan Holdings Corp II: SPAC Tuscan Holdings Corp II (NASDAQ:THCA) ranks second for the week. Fintel shows that 54.6% of shares are short and the stock has a cost to borrow of 9.1%. The SPAC is taking Surf Mobility public. Due to several voting deadlines, the SPAC has faced several redemption periods, lowering the float and number of available shares."
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