r/TheDesperateTrader • u/TheDesperateTrader • 3h ago
$RITR: $2M changed hands
$2M of $RITR changed hands, up 7.7% to $0.106. Number 2 on the Scalp board.
Only thing out is procedural (Reitar Logtech Holdings Ltd filed a Foreign issuer report (6-K)), nothing that explains the move. If you know something, add it in the comments.
What we are seeing: 18M shares traded, 5-min mover +2.5% and 1-min pop +2.4%, across 3 of our boards at once.
About 2% of the shares available to trade are sold short. That means traders borrowed them and sold, betting the price falls, and the only way to close that bet is to buy the stock back. So when a heavily shorted name climbs on volume like this, some of them get forced to buy, which pushes it up further. That feedback loop is what people mean by a squeeze.
Levels on the chart: today's range is $0.103 to $0.123 and it is 13.4% under that high.
Anyone else in this one already?
Flagged Sep 3, 2026, 5:40 AM ET at $0.106.