27 days ago • Posted by Martin Boujol
Virgin Galactic's stock price on the rise, creating a squeeze
Virgin Galactic went through a rough couple months, and many traders were betting on a price fall. Nearly 14 million shares of the company were sold short over the past 30 days. However, the stock price rose by 28% on Monday trading, following their latest successful test flight. A short squeeze occurs when a stock posts large gains and that short sellers are forced to buy the stock to close their positions, pushing the stock price further up.
Source: Bloomberg, Yahoo Finance