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American Virtual Cloud Technologies (NASDAQ:AVCT) stock is on the minds of traders with some wondering what’s next for the company.
Yesterday, American Virtual Cloud Technologies filed for bankruptcy. That sent the company’s shares lower as investors reacted to the news. However, it also sparked the idea that AVCT stock could be the next big short squeeze.
Is it likely that AVCT stock will undergo a squeeze? The short answer is no. While other companies caught up in bankruptcy news have seen the price of their stocks soar, that doesn’t seem likely for AVCT shares.
And one of the biggest reasons for that is the lack of short interest in the company. As of this writing, Fintel reports a short interest of just 7.6% for AVCT stock. That doesn’t appear high enough for traders to jump on the stock as a short squeeze opportunity.
What’s Next for AVCT Stock?
If the last couple of days are anything to go off of, American Virtual Cloud Technologies is going to see the prince of its shares continue to fall. Not only did the stock lose roughly half its value yesterday, but it’s down another 14.1% as of Friday afternoon.
All of this comes as shares of AVCT stock see heavy trading today. As of this writing, some 4 million shares of the stock have changed hands. That’s already above its daily average trading volume of about 3.8 million shares as investors sell their stakes.
Investors seeking out more of the latest stock market news for Friday will want to stick around!
InvestorPlace is home to all of the hottest stock market news that traders need to know about on Friday! Among that is what has shares of Hexo (NASDAQ:HEXO), Jasper Therapeutics (NASDAQ:JSPR), and Carvana (NYSE:CVNA) stock on the move today. You can read all about that at the links below!
More Friday Stock Market News
- Why Is Hexo (HEXO) Stock Up 10% Today?
- Why Is Jasper Therapeutics (JSPR) Stock Up 50% Today?
- Is a Giant Short Squeeze Brewing in Carvana (CVNA) Stock?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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