You probably saw my post on $JACKing off together, I postet here yesterday. Since then $JACK went up 30% and is currently trading at 18$ in premarket. This made me do some more research on when shorts will feel pressure and may start to cover.
First of all I‘m still holding my 1000 shares, which I initially bought. Also I‘m not planning on selling any of them, because I think that this is still the start of a bigger move.
# There are 2 main factors, which make me extremely bullish right now:
1. The spike in volume we saw yesterday, which was 3.6million or roughly 400% of average daily volume. But still this only represents 20% of the float, so volume should keep going up if momentum is sustainable.
2. As you can see in the second picture, I did some quick research on when shorts entered their positions. For the date and short interest, I used the short data from Finra. The prices are just taken from the $JACK chart, so they‘re only rough estimates. Then I substracted the value of the short position for each date from the last reported number of shorts on 15th June 2026. These numbers, shown in the far-right column, represent the number of shares which have been shorted below the price in the same row. This approach is not 100% correct, but it gives you a feeling when shorts will starting to feel pressure.
Marked blue, you can see that more than 2.2million shares have been shorted below 15$, so theyre already under water and will have to cover soon.
Marked orange, you can see that roughly 3.3million shares have been sold short below 21$. This means, that another 1.1million shorts will be under water if it reaches 21$.
Finally if it reaches 40$, 4.7million shorts will be under water which is marked green.
# So in conclusion: If we reach 21$ , roughly 3.3million shorts should be in the red and forced to cover. This represents 20% of the float and could result in significant jumps in share price.
So who‘s $JACKing off with me?🚀🍔