I will first give you some background about myself, have been lurking in this sub for quite a while now and absolutely love the community and fellow degenerate apes who steal tendies from the suits. I was lucky to get in on the $GME trade early on when it was still around ~$30, made some nice dough, and still hold a few shares. It was a no-brainer trade once it became clear that hedge funds fucked up by shorting too much and waited too long to cover their shorts.
I know many people missed that trade or lost because of bad entry/exit. But not to worry because guess what! A similar setup is building in $CLOV a.k.a Clover Health. A company brought to market by none other than the SPAC MAN himself
Chamath Palihapitiya. Currently, it has a short interest of ~44% on a low float of ~110 million, with institutions owning a huge chunk. Also no risk of dilution. Just so you know what caused high short interest and to be transparent, Chamath somewhat fucked up on this deal as an existing lawsuit against Clover Health was hidden from investors during the SPAC merger, the reasoning was that it was immaterial. This was revealed by a research firm called Hindenburg Research, which in my opinion produces hit pieces for WallSt. hedge funds. So naturally, shorts piled in and dragged the stock lower.
Now coming to what's happening currently, first of all, the stock is up 55.61% in the past 5 days. You might think it is already rocketed, but do not make the mistake of thinking that it's late to get in. I entered $GME when it was ~$30, after stalking it from $4 and now the stock is $285. I know $CLOV is no $GME but the real value of the stock is being suppressed by greedy short sellers. There are multiple bullish catalysts: fundamental, technical, as well as market-based, all converging at once. Below is a brief list of them.
- Fundamental- $CLOV's latest financial results were Ok while the street was expecting them to be bad. The company has $720 million in cash!!! The lawsuit, mentioned earlier which was the main catalyst for short sellers to pile seems to be going nowhere, probably something to do with powerful and well-connected board members. Chelsea Clinton is one of them.
- Technical- $CLOV price action today just crossed up its 200-day moving average with big green dildo up shorts asses. This is extremely bullish for the stock. And the price is supported by volume, as relative volume has exploded to 112 million, 5x of average, which means more people are piling in.
- Market-based- $CLOV is going to be included in Ruseel 2000 index which means passive index fund buyers will be buying CLOV shares. This has brought in a lot of traders/speculators/investor interest, think about this like you being already aware that there will big line outside the Apple store once Apple announces a new device sale and you front run everybody to get in there before everybody else.
Also options volume today was huge, probably set up for a gamma squeeze effect. I suspect a lot of folks are trying to front-run what is inevitable, and that is $CLOV is going to the moon! I don't have a price target, because, given the trade setup and environment we are in, anything I will estimate might end up being low. If you cannot handle the volatility buy shares and sit tight, for more retarded apes options are the way to go. You are going to profit anyways.
TLDR, Suit up, hop in, and don't forget to buckle up my fellow apes. The $CLOV 🚀 is ready for liftoff! Have fun and steal those tendies from greedy short sellers. This well might be your $GME moment!
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