Short bets drop in latest meme stocks Support.com, Vinco - S3 data

Vinco Ventures

01/09/2021 16:01

** Short interest in two new meme stocks, IT service
provider Support.com Inc  SPRT.O  and e-commerce firm Vinco
Ventures Inc  BBIG.O , has decreased recently, stats from data
analytics firm S3 show
    ** SPRT, up over 1,300% YTD, was set to extend losses to a
second day with its 14% drop; BBIG surged 19%, adding to its
six-fold jump this year
    ** Short interest in SPRT was last at 37.6% of free float,
down from 60% on Friday, while it fell to 16.7% from 20.0% for
BBIG - S3 
    ** Interestingly, the total short interest in both stocks is
relatively small compared with recent avg trading volumes - S3
Partners MD Ihor Dusaniwsky
    ** Says if a short squeeze does occur, the effect of the
buy-to-covers may have minimal effect on their stock price 
    ** The original meme stocks continue to be strong short
squeeze candidates, Dusaniwsky adds
    ** Shorts on cinema operator AMC Entertainment  AMC.N  down
21% in mark-to-market losses over the last seven days and off
17% over the last month - S3
    ** GameStop  GME.N  shorts down 25% over the last seven days
and down 28% over the last month - Dusaniwsky 
    ** Says two meme stocks whose "squeezability" has decreased
recently are Cassava Sciences Inc  SAVA.O  and Skillz Inc
 SKLZ.N 
    ** SAVA shorts up 22% in mark-to-market profits over the
last month, while SKLZ shorts have increased 29% - S3

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))