EARN25

Switch Stock Cools From Records Amid Rumors of Potential Sale

The shares hit a record high on Monday

Digital Content Manager
Mar 22, 2022 at 9:54 AM
facebook X logo linkedin


It was just reported by Bloomberg that data-center operator Switch Inc (NYSE:SWCH) is in the middle of exploring several strategic moves, of which could include a sale of the company. Those familiar with the matter said the firm is currently in talks with advisers as they weigh their options, though the company itself has yet to speak on these claims. Following these reports, SWCH is down 0.9% morning, trading at $29.18. 

Switch stock has added roughly 89.1% in the past 12 months, and it clings to a 2.7% year-to-date gain. The equity staged an impressive rally that's carried on into this week, stringing together five-consecutive wins and hitting a record high of $30.22 during Monday's session. 

Short interest has risen alongside the stock, up 25.7% in the last two reporting periods. Now, the 6.24 million shares sold short make up 4.9% of SWCH's available float, or nearly four days' worth of pent-up buying power. 

Analysts, meanwhile, are overwhelmingly bullish. All 10 in coverage consider the equity a "buy" or better. However, the 12-month consensus price target of $30.38 is just a 2.1% premium to last night's close. 

 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!