Breaking News - OTRK - New CEO Will Lead To Massive Short Squeeze

Breaking news. Top meme stock short squeeze candidate OTRK announced a new CEO Jonathan Mayhew. The stock is up in the $37 range pre-market but with short interest numbers and a gap fill in the chart as demonstrated in our previous blogs and posted below, it has potential to make a major move in the coming days. According to the SEC filing, Mayhew most recently served as Executive Vice President and Chief Transformation Officer of CVS Health, where he had enterprise-wide oversight of the entire portfolio of CVS business transformation initiatives and played a key role in shaping CVS Health’s integrated value story. Previously, he was President of U.S. Markets for the Aetna Health Care Business. This is important because OTRK recently tanked on news of losing Aetna as a client. Now it has a chance at gaining it back. 

Short interest data pulled from Yahoo Finance was updated for numbers up to the end of February:

These stats are posted exactly as is from Yahoo Finance and we're aware that the short % doesn't equate to the short interest divided by float. GME remains the top target, though its short interest as a percentage of the float did decrease from 60% to 52%. OTRK's increased slightly to 32% from 30% and remains the second highest shorted stock of the six. KOSS' short interest doubled to 21% so that's another one to watch. 

A chart of OTRK's recent performance really outlines its short squeeze and gap fill potential:




 













The stock has a white candlestick extending well above the highs of the gap down made on March 1. This is really important because now it's in the zone where it can fill that gap quickly. The stock lost as much as it did that day after news of it losing its largest client, but financial results released earlier this week are being very well received by the market, with many thinking it can overcome this loss and still see strong growth going forward. 

LIVE remains a dark horse play. The short interest is low, but it doesn't really need short interest because of its extremely small float of only 1.27 million shares. KOSS has generally had a low short interest but that didn't stop the stock from running to over $100 from $10. LIVE's float is less than half of KOSS. Also LIVE is the only one in the group that has earnings and a P/E ratio. Most P/E ratios are around 20 so LIVE being at only 6 makes the stock nearly four times undervalued. We think it can reach $100 to come more in line with average P/E ratio numbers. 

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