ToughBuilt (TBLT) Stock Squeezes 60% Higher
One of today’s most impressive movers is ToughBuilt (NASDAQ:TBLT). Up more than 60% in earlier trading, TBLT stock has since given up some of its gains, sitting around 40% higher in late-afternoon trading. However, after such a move, investors may wonder what’s going on with this otherwise lowkey stock.
As it turns out, it is ToughBuilt’s short interest that has investors excited today. According to some sources, the percentage of the company’s float that’s sold short is over 100%. This can happen when stocks are heavily shorted, to the extent that short volume exceeds trading volume on a given day. In other words, short-sellers are holding their ground.
Today’s move higher suggests that a short squeeze could be underway for ToughBuilt. While this stock has given up some of its gains, it’s unclear how much of today’s falloff this afternoon is tied to profit taking. Accordingly, perhaps we’ll see this spike continue.
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