Insignia Systems eyes best month since 1991, short interest surges
29/12/2021 15:09
(Updates to market open)
** Insignia Systems ISIG.O climbs 33.7% to $25.23,
extending gains from a 65% jump on Tuesday
** Stock has advanced 423% this month, on track for its best
month since its debut in 1991
** ISIG tops Fintel's leaderboard used to track companies
that have the highest likelihood of experiencing a short squeeze
** Roughly 590,000 shares shorted and short interest in ISIG
is 63.61% of free float, as per analytics firm S3 Partners
** "This is a stock with a small market cap, small float and
tiny amount of borrows available – there will be virtually no
new short selling in this stock due to lack to stock loan
supply" - Ihor Dusaniwsky, managing director of Predictive
Analytics at S3
** Stock is the second-most trending stock on
investor-focused social media Stocktwits.com, with message vols
up ~202%
** ISIG was also the fifth most traded stock as of 0948 ET
by retail customers, according to Fidelity Research
** Insignia has 1.77 mln shares outstanding, a free float of
1.06 mln and a market cap of $33.63 mln - Refinitiv data
** Nasdaq has halted the stock once since open for
volatility trading
(Reporting by Bansari Mayur Kamdar in Bengaluru)
((BansariMayur.Kamdar@thomsonreuters.com;))