Applied digital has been on a tear for the past few weeks fuelled by the news that Nvidia has bought a stake in the company and the deal with wall streets latest darling Coreveave.
Digging a little deeper, looking at the options chain there are a huge number of calls all the way up to $20. The short interest is quoted at 36.2% on market beat, as the price rises short sellers will be forced to close their positions by buying back shares fuelling further gains.
In addition to these factors institutional investors have recently been buying large chunks of shares.
This could very well go parabolic
Digging a little deeper, looking at the options chain there are a huge number of calls all the way up to $20. The short interest is quoted at 36.2% on market beat, as the price rises short sellers will be forced to close their positions by buying back shares fuelling further gains.
In addition to these factors institutional investors have recently been buying large chunks of shares.
This could very well go parabolic
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.