This thread is meant to identify any short squeezes that are about to happen, are happening or have happened.
There is a short squeeze developing on Rupert Resources (RUP:VSE. About 110,000 shares have gone short by Oct. 7, 97, most by Yorkton (house 16) I would guess. The stock ran from 50 cents to $2.50, on the optioning of a producing diamond mine. The stock has been remarkably steady after such a run, and volume has all but dried up in the $2-$2.25 range.
Yorkton is heavily offering stock at $2.40-$2.50 in hopes of shaking some retail stock loose, but the company is set to drill in the next couple weeks, and is just closing a $3 million financing at $2.10. The stock could continue to drift if the placement doesn't close in the next week, (a definite risk, but I think it will close) but with drilling starting I think the stock could firm up and cause these guys to buy back in. It's a hot diamond market now, with Ashton and Southern Era having good runs. |
