No. of Recommendations: 1
I joked to someone last Friday that I'll be disappointed if the stock blows up to $600/share next week.
I had a cost basis of less than $10/share. I acquired it decades ago as a penny stock when Avis was close to bankruptcy. They then did a 10 for 1 reverse split to keep the share price above $1 so they wouldn't get delisted.
Here's Monday's trading action.
Google: Finance Quote CAR:NASDAQThere's a 54% short interest in the stock.
I think what’s happening here is that the short interest is in the hands of a large hedge fund(s) where the position is a very small percentage of assets. So even if they get to where the cover ratio is 10 to 1 or 20 to 1, they have the financial ability to ride it out.
This could be another DELL for somebody. {{ LOL }}
intercst
