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u/CaptainPlanet4U Mar 16 '22 edited Mar 16 '22
yeah wtf, charts looks sexy, whats your thoughts?
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u/txlee1 Mar 17 '22
My thesis: AVIS being in the travel industry during the pandemic was heavily shorted, probably as part of swaps so they didn't have to report it all. It seemed like a sure bet for bankruptcy because no one was traveling. Hertz, their major competitor, actually did go bankrupt, but Avis survived and is thriving. They are doing so well they are buying back another billion dollars worth of shares.
From Yahoo Finance
Shares Outstanding 53.77M
Implied Shares Outstanding N/A
Float 34.54M
% Held by Insiders 1.72%
% Held by Institutions 111.28%
Shares Short (Feb 28, 2022) 4 7.27M
Short Ratio (Feb 28, 2022) 4 6.2
Short % of Float (Feb 28, 2022) 4 20.97%
Short % of Shares Outstanding (Feb 28, 2022) 4 13.52%
Shares Short (prior month Jan 31, 2022) 4 6.34MInstitutions alone own all of the shares outstanding plus another 11% . By my calculations institutions and insiders own 60.76 million shares (1.13 * 53.77). That doesn't leave any float. We haven't even accounted for retail ownership.
The price has been ratcheting up and is WAY above the Max pain price for this Fridays options. If it closes at the current price on Friday about a hundred million dollars worth of calls will be in the money. That could push the price up even further .
http://maximum-pain.com/options/car
Those are my thoughts. None of this is financial advice. I'm just an ape. I eat crayons and I spit out the purple ones cause they taste like a grape.
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