With the upcoming dividend exclusion date (6/9/… nice… 2021) the MM who have been relentlessly battling the shareholders, by shorting half of the daily volumes to keep the stock flat, are in a predicament that they have to either cover their shorts or pay the dividend. This combined with a 38% borrowing fee for new shorts gives great opportunity for the stock to gain some much needed traction. As of now we can see several EFTs (Vangard) purchasing shares to qualify for the dividend and can expect other large firms to do so in the next couple of days. Other catalysts include a buyback of 300M announced by UWMC and a potential Russell 3000 inclusion (if anyone can figure out what inclusion/exclusion qualifiers to follow). All that said, it’s plain and simple. This stock needs some volume to really take off and we should get a preview in the next few day. Note: All data/numbers are from Fintel. Note 2: Not financial advice, just observation from fellow ape.
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