$FMC Corp(FMC)$ +30% off the bottom on Friday massive short squeeze starting or just a dead cat bounce?If you looked at $FMC two weeks ago when it crashed from $8 down to $4.37, it was priced like it was going out of business. Then Friday hits, management guides for a profitable Q4 and lays out an EBITDA recovery plan through 2028, and the stock explodes +30.5% to $6.20 on almost 18 million shares (more than 3x normal volume).Basically, shorts got greedy pressing it under $5, and once bankruptcy was off the table, everyone had to rush for the exit at the same time. The crazy part is the chart: because it fell off a cliff so fast on Oct 15, there is almost zero resistance between $6.20 and the old $8.09 gap.
# Trade Feed: Who is your favorite trader?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

  • Top
  • Latest
empty
No comments yet