$AGYP ~ OTC Short Squeeze Candidates: Allied Energ
Post# of 102860
Allied Energy Corporation (OTCMKTS:AGYP)
After spending most of the second half of the summer getting hammered by the shorts, the stock popped last Thursday which has seemingly scared some of the shorts off. You can see in the chart below how the gap between regular volume and short volume is widening meaning the runway is clear.
AGYP, is an oil and gas exploration company that reworks existing wells. The company share price is up around 500% on the year which may be why some shorts were betting against the company, however, the stock has been up as high as 1,540% which is why they may be treading lightly now. AGYP recently released a report from oil engineer Mark McBryde forecasting over $32 million in proven reserves between 2 of the company’s many oil & gas leases. Investors are waiting for news from the company’s lead leases the Green and the Gilmer, shorts are most likely scared of any forthcoming announcement which could be why they are starting to back off.
https://topnewsguide.com/2021/09/08/otc-short...c-nysecei/