Gogo‘s large short position appears to be boosting the company’s share price this week. While GameStop is capturing the headlines as part of a push on Reddit to squeeze out that company’s short holdings, a number of other companies are seeing similar action.
Gogo is one of them. The company’s shares are trading above $15 on Wednesday, the highest the share price has been in 5 years.
I can’t come up with any other explanations for the price spike right now. The company is running smoothly since the Commercial Aviation sale late last year, but that doesn’t explain the spike in volume and price being seen right now.
It is also interesting to note just how large the short positions have remained, despite the company selling off the CA division and generally reaching a stable position with a reasonable outlook.
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