Hello friends. Apparently, the short interest on this stock is over 200%. Gamestop didn't even have nearly this much short interest before it began the squeeze. Not to mention, the stock market is expected to rise through the end of the month, giving this rocket even more fuel.
However, it's important to not be the idiot left holding the bag when this is all said and done. Redbox won't go to $100. It won't go to $1,000. And no, for god's sakes, it won't go to $10,000. The only reason people are pretending it will is because they don't want anyone else to sell, since they are secretly planning to take profits much sooner and would have to sell for a lower price if there wasn't some fool to buy from them. A realistic target could be maybe $40 tops. Thats because, at the end of the day this stock is already being acquired, and it's selling for close to zero because that's the fundamental value of the stock. No one will want to be left holding the bag when they realize that.
However, it's important to not be the idiot left holding the bag when this is all said and done. Redbox won't go to $100. It won't go to $1,000. And no, for god's sakes, it won't go to $10,000. The only reason people are pretending it will is because they don't want anyone else to sell, since they are secretly planning to take profits much sooner and would have to sell for a lower price if there wasn't some fool to buy from them. A realistic target could be maybe $40 tops. Thats because, at the end of the day this stock is already being acquired, and it's selling for close to zero because that's the fundamental value of the stock. No one will want to be left holding the bag when they realize that.