In thin holiday trading volume, Walgreens (WBA) rose by 4.19%. Tax-loss selling on this heavily short-sold stock ended. Bears hold a 13.61% short interest on WBA stock. They should cover their bet since the drugstore stock formed a double bottom at around $8.10 from October to December.
Walgreens is the fourth most short-sold stock on the S&P 500 (SPY). In comparison, Super Micro Computer (SMCI) has a short interest of nearly 16%. International Paper (IP) is next at 14.91%, followed by Enphase Energy (ENPH) at 14.76%.
Walgreens could fix its business by cutting operating costs as it closes more stores. In addition, the government will not likely shut down PBMs without consulting the industry.
Dollar Tree (DLTR) added 3.87% on Thursday. On Dec. 19, 2024, the retail discount store operator announced interim CEO Michael Creedon as the permanent CEO. Creedon was previously the company’s COO.
Microstrategy (MSTR) dropped by 4.70%. Shares continued to trend lower after Nasdaq 100 (QQQ) added the company to the index. MSTR stock is at the mercy of Bitcoin (BTC-USD) prices. BTC traded recently at around $95,640. Unless prices rally past $100,000 and stay above that for longer, avoid MSTR stock.
Ethereum (ETC-USD) and altcoins depend on BTC’s strength. Chances are high that Bitcoin traders will book profits after it gained over 110% in 2024.
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