RegenCell BioScience Holdings (RGC)

[shinhari1309]

This stock is behaving like $GME. Does it also have a potential short squeeze?

The market was rocked by the short squeeze of American video game retailer GameStop Corp. in January 2021, which had serious financial repercussions for several hedge funds and resulted in significant losses for short-sellers.

The public float of the gaming retailer saw about 140% of its short positions sold. To cover those bets, there was a wild dash to buy shares, which raised the price even more.

Despite the involvement of several hedge funds, it was users of the r/wallstreetbets subreddit that in large part started the short squeeze.

The retailer's stock price reached a premarket value of more than $500 per share on January 28, 2021, when the short squeeze was at its worst. At the start of that month, the price was worth $17.25, which was almost 30 times the current price.

Regencell Bioscience Ltd. is a ticker that some investors have considered to also have the potential for a short squeeze.

With both averaging over 40% during the previous year, the short volume ratio shows a similar tendency to that of GameStop. In fact, there have been days when Regencell's shares have been shorted about 90% more than GameStop.

The CEO and founder of the Regencell possessed 10,539,159 common shares as of May 16 and recently purchased another $886,000 of RGC shares at an average price of US$39.48, increasing his shareholdings by 0.2%. He believe in the company and its future and intend to continue to put his money where his mouth is and increase shareholdings." which accounted for 81% of all issued and outstanding common shares of Regencell.

The total cumulative short volume for Regencell, as reported by a third-party data analytics provider, is over 19 million shares. However, even though there are only slightly more than 2.4 million shares outstanding after deducting the CEO and Chairman's shares, Regencell is still trading at a premium of more than 289% to its IPO price. Its total reported short volume to outstanding shares ratio (excluding the CEO and Chairman's shares ratio) is nearly twice that of GameStop, coming in at about 8 times versus just over 4 times for GameStop. Currently, GameStop is trading 50 times above its $2.52 historical low. What is the source of all the extra shares?

Retail shareholders came together as shown on Reddit and other social media platforms and forums, especially during the GameStop short squeeze, motivated by the community's desire to punish market participants who make a mistake.
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