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24/7 Market News – 24/7 Market News June 24, 2022 weekly Wrap

(24/7 MARKET NEWS) It seems fitting that this short week is full of short squeezes.

Revlon (NASDAQ: REV) set the perfect bear trap and it could be become a legendary play. We were covering early and expect to continue for a while, as it may consolidate and move. It’s at $8.13 up+0.93 (+12.92%), on over 38 million shares.

We started covering Clovis Oncology Inc. (NASDAQ: CLVS) below a dollar and, since it’s one of the most heavily shorted stocks on the market, it could begin to make even bigger short squeeze moves. It’s currently at $1.75, $0.02 (+0.86%) higher, on over 13 million shares. It looks like it may trade between the 200 day moving average resistance and the 50 day moving average support.

Redbox Entertainment (NASDAQ: RDBX) has been in the red all week, but it’s still well above the 50 and 200 day moving averages. Redbox is at $9.47, down $0.38 (-3.86%), on over 3 million shares traded and may even continue to stay above the 20 day moving average.

Trades

We normally don’t cover Chinese companies, but yesterday’s Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) action was too much to ignore. It opened higher this morning, but has been drifting lower, at $2.30, down $0.43 (-15.74%), on over 50 million shares. It may hold enough of its recent gains to continue to be in play, but it’s doubtful that we’ll continue to cover.

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