IBRX Is The Next One To Squeeze After GME

Yesterday we talked about the correlation between GameStop Corp. (GME) and several other short squeeze plays, namely ImmunityBio, Inc. (IBRX). Unfortunately for IBRX longs that didn't pan out today as GME rose over 60% but IBRX dropped 2%. In the morning it was looking like IBRX was going to follow GME as it was up 5%, but unfortunately GME pulled back from its pre-market spike to $80 so the impact was short lived on many short squeeze plays, including IBRX.

What people need to realize is that short squeezes are all connected. The same firms short several of the most popular shorted stocks and the same mechanisms that allow shorts to gain a position in the first place exist across all of them. If one heavily shorted stock squeezes, others will follow. When we compare the stats of GME to IBRX, they are very similar, with IBRX having a slight advantage.

As the shorts capitulate on GME, look for IBRX to follow.

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