It seems every low float Chinese stock has run hard except $SUGP.
\-No Active dilution, they had an offering close May 13 with warrants (strike price of $5.50/share)
\- 4.46million share outstanding shares reflects if that offering is fully dilated
\- my understanding is the 3 million potential shares from the closed offering are locked up for a time period. I can't find a definitive answer so if you see something else please let me know
\- 15.33% of outstanding shares held short
\- CTB 234.16% with 0 shares available
\- 40mil shares were traded Friday June 5th, only 1mil today, so volume has shrunk, leaving shorts trapped.
\- closing price has increased 4 out of last 5 trading days, so margin calls are becoming more likely for shorts
\- above $1 so no risk of delisting
I have seen dozens of stocks run hard this week with active dilution (ATMs, Toxic Debt, Warrants) that probably killed any real potential. SUGP doesn't have any of those, except warrants at $5.50, which is a 5x from here anyways. My belief is the short interest went way up on Friday when it tried to run and was halted twice. I think this is a great short squeeze opportunity, but with any investment do your own DD.
If you are seeing anything different out there let me know, I don't want to have tunnel vision.