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Agree Realty Corp. Message Board

  • bigradster bigradster Feb 17, 2011 10:16 AM Flag

    Short Squeeze starting

    BTW, I warned shorts to cover yesterday. This is easy money, I think we hit $28 when Borders emerges from bk, if not sooner.

    Janney Montgomery Scott Upgrades Agree Realty (ADC) to Buy; Borders Scare Passing
    7:04 am ET 02/17/2011 - StreetInsider

    Janney Montgomery Scott upgraded Agree Realty (NYSE: ADC) to Buy. PT $28. JMS analyst says, " With Borders (NYSE: BGP) intending to close just 5 of Agree's 13 retail locations, we look for the REIT to rebound meaningfully in coming days as the BGP overhang dissipates and portfolio value is re-established. " "Short interest in Agree has climbed from 229k shares on 12/15/10, to 842k at 1/31/11 and currently represents 13x daily trading volume. Positions spiked following the Borders announcement that it was suspending vendor payments, and Agree's limited float may cause a short squeeze." For more ratings news on Agree Realty click here and for the rating history of Agree Realty click here. Shares of Agree Realty closed at $23.63 yesterday, with a 52 week range of $19.91-$29.25.

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