Hi folks
I own a (relatively, for me) large chunk of RKT shares. Over the past month, this share has fallen flat and has seen relatively little price action. However, since this stock has IPO'd in august, institutional ownership has risen to 86% of the float. While this has the delay of 45-90 business days that 13-F filings allow, I have no sign that these institutions have sold so far.
My question is the following: with only a couple of million shares remaining for retailers, what does this mean for price action? Obviously "smart money" is confident for the years to come and the shares are becoming increasingly scarce meaning supply and demand will drive the price up, but without the volume and retail buyers driving the price up will this happen?
I thank you in advance for your insights!
Kind regards.
Submitted November 29, 2020 at 06:25AM by Zealousideal_Site770 https://ift.tt/3o7dfOK
