Cowen thinks it will see a massive buy of 2,405,300 shares of stock. That represents 41% of the 10-day average trading volume.
The company has been an incredibly volatile stock over the past few years. MannKind has launched its inhalable insulin product, which was on the burner seemingly forever.
The consensus price target is set at $4.67. MannKind shares closed trading on Monday at $2.
If it really happens it could be my short squeeze.
1/3 of the float is short, the price is based on artificial stock sales date. I think they will start covering before the end of the year to book the profits for their principals to see how good they did.
Once the covering starts we will be in a squeeze because the only people wanting to buy are covering. FWIW
I wonder how many buy orders it would take to start a short squeeze?
If a lot of longs decided to increase their MNKD holdings by 10% would that have an
impact on the share price?
I am thinking about buying since I am underwater already and if nothing else I would be averaging down.
But with the float of 270M and shorts of 120M how much pressure will it take to start a squeeze?
Sentiment: Strong Buy