MMTec (MTC) Stock Is Flying With No News

MMTec MTC Stock News

MMTec Inc (NASDAQ: MTC) is flying in the market this morning. However, if you’re looking for press releases or SEC filings, you might as well hang your hat. The company hasn’t released any news this morning, or any time recently for that matter. Here’s what’s going on:

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The MTC Stock Run Is A Classic Short Squeeze

Stock & ETF Trading Signals

As mentioned above, MMTec is screaming for the top in the market this morning, leaving many scratching their heads as there’s no clear catalyst for the move. Nonetheless, this is a classic short squeeze. 

Prior to today’s dramatic premarket trading session, MTC traded with a short volume ratio of 23%. That’s about as high as a giraffe’s eyeball. 

With the high short interest, it didn’t take much to trigger a short squeeze. Ultimately any tick upward in price would lead to shorts racing to purchase shares to cover their positions. That seems to be the case today. 

While there’s no clear reason for the first few purchases that led to the uptrend, the dramatic gains are very easily explainable. As the stock begun to tick up, shorts lost their shirts and raced to cover, leading to compelling volume on MTC stock and dramatic price appreciation. 

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The Bottom Line

The bottom line here is simple. While MTC hasn’t issued any news, the company really didn’t have to. At the end of the day, the company’s heavy short interest was enough to make it pop. Sure, short interest is a bad thing, but for minimal periods of time, during short squeezes, it can lead to tremendous gains.

However, if you’re a newbie to the stock market, be very careful here. Short squeezes are highly volatile moves and can lead to significant losses for those who buy in too high. Nonetheless, if you know how to play the game, there’s probably plenty more room for gains in the stock ahead.

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