It’s important to keep a close eye on retail trading and what stocks have the potential to go on a meme-like run.
This is how I stumbled into checking out $RDBX.
I admittedly do not know where this trade originated. Many have been talking about it online since late last week.
Redbox is an American video rental company specializing in DVD, Blu-ray, 4K UHD rentals, and formerly video games via automated retail kiosks.
Short interest of over 50% will quickly get anyone’s attention.
Current ORTEX estimated short interest is 51.28% of the free float. Cost to borrow has increased 354% in recent days on average. It does appear shorts returned 58.5k shares.
According to Finformer, $RDBX was the fourth most mentioned stock during today’s market hours.
So we have a stock with high short interest and clear public attention.
Redbox could be a fun name to add to the watchlist this week for potential trades.
According to MarketWatch, “Redbox might also be winning the attention of a new crowd of investors, as it’s currently a trending name on Stocktwits, a platform that lets investors discuss stocks. It “looks like this is driven by retail shareholder interest, similar to what we’ve seen with GameStop and AMC over the past several months,” Wedbush analyst Alicia Reese told MarketWatch. Redbox shares were up more than 40% in midday trading Monday after rocketing nearly 70% in Friday’s session.”
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