AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Target squeed11/21/2023 Changes in these assumptions may have a material impact on the backtested returns presented. General assumptions include: XYZ firm would have been able to purchase the securities recommended by the model and the markets were sufficiently liquid to permit all trading. Backtested results are calculated by the retroactive application of a model constructed on the basis of historical data and based on assumptions integral to the model which may or may not be testable and are subject to losses. The results reflect performance of a strategy not historically offered to investors and does not represent returns that any investor actually attained. Backtested performance is not an indicator of future actual results. Meanwhile, Coinbase’s average share price of $52.21 gives it 30.04% downside potential.ĭisclaimer: The TipRanks Smart Score performance is based on backtested results. It also has the strongest upside potential at 41.67%, thanks to an average price target of $9.69. Analyst consensus actually considers Riot stock a Strong Buy. Of the four stocks potentially facing a short squeeze, only one-Riot Platforms-isn’t considered a Hold by Wall Street. Shorting stocks in such an environment looks attractive, but the sheer volatility of the field makes such a move risky these days. Troubles from regulators and investors alike are on the rise. Crypto prices have declined since the highs seen back in November 2021. As of today, he’s bought none to replace it. Already, reports suggest that Silvergate’s CEO, Alan Lane, sold all of his stock back in July. The notion that all these companies are seeing short squeezes may not be that out of line. Similar trends were already spotted with MicroStrategy ( NASDAQ:MSTR) and Riot Platforms ( NASDAQ:RIOT). Conversely, Coinbase is up over 120% on a year-to-date basis, with Silvergate up 60% just since the end of last week. However, subsequent news about a DOJ investigation into Silvergate sent it back down. Silvergate Capital spiked just yesterday after news emerged about State Street ( NYSE:SST) buying in heavily. In fact, some unpleasant comparisons to GameStop ( NYSE:GME) are currently emerging.īoth Coinbase and Silvergate Capital are down in today’s trading, but that wasn’t the case recently. However, based on several stocks in the sector-particularly Coinbase ( NASDAQ:COIN) and Silvergate Capital ( NASDAQ:SI)-it’s starting to look like a short squeeze is already in progress. We all know that the cryptocurrency market, in general, has been wildly unstable.
0 Comments
Read More
Leave a Reply. |