Home Business-newBusiness High Short Penny Stocks to Watch as AMC Stock Shoots Up

High Short Penny Stocks to Watch as AMC Stock Shoots Up

by Yucatan Times
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Identifying penny stocks with high short interest is nothing new. However, this approach saw a huge paradigm shift this year. If you traded penny stocks or any stocks in 2021, you must have seen GameStop Corp. (NYSE: GME), AMC Entertainment Holdings Inc. (NYSE: AMC), and, most recently, BlackBerry Ltd. (NYSE: BB) climb to new heights.

Investors opted to gamble against these firms because they all have significant short holdings. In a short period of time, this resulted in a profit of thousands of percentage points. As a result, retail traders have achieved a new level of influence over the market. 

What Are Penny Stocks with a High Short Interest?
Before thinking about the best penny shares to buy UK 2021, it is important to understand them in detail. In a nutshell, this is the number of shares purchased as “shorts” by investors. For example, numerous major institutional funds chose to acquire shorts in GameStop in order to gamble on the company’s eventual demise. This was understandable given GME’s impending demise.

People stopped going to retailers to buy video games, and GME shares dropped as a result. However, due to an emotional tie to the store, investors, primarily from Reddit, decided to band together to preserve it. Furthermore, as a symbol of opposition to Wall Street, these investors wanted to beat out the institutional hedge fund.

It’s important to keep in mind that these stocks are often quite risky. It’s much riskier when so many others are betting against them. However, with that in mind, the potential for profit is evident. Let’s look at three penny stocks with high short interest.

Senseonics Holdings
Senseonics Holdings is a penny stock that we’ve been following for a while. There’s a reason for that, according to HypeEquity, with social media search volume increasing 600 percent. It’s worth noting that SENS is a company that makes diabetes-related technologies. This includes insulin monitoring, which may be done entirely using a smartphone. While the company’s goods are intriguing, the public perception of SENS stock may be even more so.

If the short squeeze persists, some traders on Reddit speculate that SENS stock may hit $6. While this is just speculative, given the rapid growth of other well named meme stocks, it is not impossible. SENS shares have increased by more than 750 percent in the last six months, reaching a high of $3.69 on June 15th. Senseonics’ stock price has risen by almost 88 percent in the last month alone.

GTT Communications Inc.
Despite being down approximately 8% today, GTT stock had appreciated over 35% in the last month. Because of its competence in membrane containment devices, GTT Communications is virtually a tech penny stock. It is, however, primarily involved in the transportation and storage of liquefied gases.

LNG ships, floating terminals, offshore storage tanks, and multi-gas carriers all use its goods. It also provides smart-shipping services for natural gas and other items. Fuel consumption was obviously low during the pandemic, but it is already returning to pre-Covid levels.

Digital Ally Inc.
Digital Ally Inc is another penny stock we’ve been talking about for months. Let’s go through what DGLY does for those who aren’t familiar. Because DGLY’s company is so diverse, it’s impossible to define just one area in which it trades. Digital Ally is a specialist in the design and manufacture of high-quality video recording equipment and analytic software on the one hand. These devices are utilized in a wide range of applications, including law enforcement, event security, and emergency services.

On the other hand, the firm just unveiled the Shield Health Protection Product range, which contains a number of pandemic-fighting goods. This covers anything from gloves to face masks to large-area disinfection electrostatic sprayers.

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