Clover Health, the health insurance company saw consecutive losses in the last five months but the stocks seem to be rising in their favour. Clover rallied about 72% as of today, their trading volume up by about 22 times of what it was two days ago a number that definitely compensated the company for its dip in the past few losses.
Short sellers had been betting against the company as was favourable two days ago. Ihor Dusaniwsky, Managing Director of Predictive Analytics at S3 said that “Short sellers appear to be shorting into a rising market and overheated stocks, they are looking for a pullback off of these elevated levels.”
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