Round 2 of the massive short wipeout!
Going to gap up in the am Monday to $5! Mark this post.
Short Squeeze today!
Institutions hold 97% of the shares! There is no float! ADTN should be in the 30s right now. 3 million short shares is more than the float when you do the math. Goldman Sacks issued a downgrade to sell the day after the stock closed at 20.40 and was .20 away from a 52 week high. Total bs that Goldman can totally control the price of ADTN. Today ADTN was moving higher again...19.27 on no volume most of the day and then Goldman started dumping on the bid with short shares all the way down to 18.60! 3 million short shares is massive for ADTN...again...more than the float so they have naked short shares....shares that are illegal. ADTN needs to buyback the 3% float. Get rid of Goldman...squeeze them out of here! Take out the float completely and ADTN soars.
ADTN was heading for a new 52 week high today. Adtran CEO needs to call the SEC and have them investigated. Over 100% of shares are owned by institutions...so there is no float! But there are 3 million short shares. Total BS!
I would wait a few days and let the shorts do their work. Get in somewhere around 24...but if the market pulls back next week.....wait for under $20. Another Jim Crammer pump that he has to eat.
They were active all day on level 2. 24.90 need to fall...it goes back to 2012. People on margin are forced to sell it right now and the shorts know it.