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Allied Healthcare (NASDAQ:AHPI) stock is seeing massive gains on Friday as one expert believes the stock could be heading to the $10 mark.
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Will Meade, a former hedge fund manager turned Twitter (NYSE:TWTR) stock influencer with more than 200,000 followers, is predicting that a short squeeze could push AHPI stock up to $10 per share. Meade has a few reasons for making this claim.
First off, he notes that Allied Healthcare is a company that manufactures oxygen cylinders and respiratory products. That makes it a perfect target for growth alongside other stocks connected to the novel coronavirus pandemic.
In addition to this, Meade points out that the stock has a high short interest. S3 has short interest for AHPI stock sitting at 41.5% while Marketwatch has that number coming in at 53%. This makes it the most shorted COVID stock.
You can check out Will Meade’s Tweet concerning the potential of AHPI stock below.
$AHPI can easily squeeze to $10 almost half the float is short! https://t.co/7ejOWDebxD
— Will Meade (@realwillmeade) July 30, 2021
Retail investors seem to be on board with Meade’s short squeeze idea as AHPI stock is seeing heavy trading today. As of this writing, more than 39 million shares of the stock have changed hands. That’s a massive jump compared to the company’s daily average trading volume of about 5 million shares.
AHPI stock was up 49.6% as of Friday morning and is up 71.2% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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