$SKLZ Skillz Inc. potential short squeeze candidate
Thank you Yahoo Finance for the charting capability.We bounced off the 21 day simple moving average today, and rose through the 51 day simple moving average (yellow and black lines on the chart). The next 'big' test is the 200 day simple moving average at $10.02 per share. We also note the MACD continues to be positive and showing short-term momentum higher.
$SKLZ: Thinking about whether Skillz Inc is a candidate for a short squeeze Why a short squeeze? The chart makes us think that sellers are pushing it below $5.00, and the company is buying back shares up to $5.20. The company can buy back $58,044,827 more stock (including commissions). With roughly 20M shares outstanding...this thing could skyrocket higher if the company and short sellers keep battling it out. The Sources: Yahoo finance daily chart over the past 2 weeks. Most recent 10-Q: "As of November 7, 2023 the Company has repurchased 1,156,693 shares of its common stock at an average price of $5.21/share for a total cost (including commission) of $6,055,173." "On August 18, 2023, the Board has determined that it is advisable and in the best interests of the Company and its stockholders to authorize the Company to repurchase, at any time or from time to time but for a period no longer than one year from the date hereof, shares of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), having an aggregate purchase price not to exceed $65.0 million (a) on the New York Stock Exchange (the “NYSE”) or any other national securities exchange on which the Common Stock is then traded, (b) pursuant to a plan effected pursuant to Rule 10b5-1 (a “Rule 10b5-1 Plan”) promulgated under the Exchange Act, and/or (c) pursuant to accelerated share repurchase arrangements, tender offers, privately negotiated transactions or otherwise (the “Share Repurchase Program”)." We are long the stock, so this could be wishful thinking.
This stock is the #3 best stock as selected by the Chicago Quantum Net Score from our latest run using Friday, November 10, 2023 market close data.
We originally bought a position in this stock after it hit the top 10 list and we did significant due diligence.
We also made a YouTube video about the stock. Here is the link for the video below: