Fortinet Inc. (NASDAQ:FTNT) Short Squeeze 2023-08-04

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Over the past twenty days of trading, Fortinet Inc. (NASDAQ: FTNT), from July 07, 2023 to August 03, 2023 there is a potential Short Squeeze about to happen because of an increase in short volume over the past twenty days with very little cover volume.

Because of this the Squeeze Report trend indicator issued a FTNT Short Squeeze.


Fortinet Inc. (NASDAQ: FTNT) Short Squeeze Analysis

During the last five days of trading, from July 28, 2023 to August 03, 2023 FTNT had a staggering 2,592,387 shares shorted while trading a total of 21,490,266 shares as show the on FTNT short page.

The last ten days of trading, from July 21, 2023 to August 03, 2023 FTNT had a staggering 5,526,332 shares shorted while trading a total of 48,510,403 shares as show the on FTNT short page.

Over the last twenty days of trading, from July 07, 2023 to August 03, 2023 FTNT had a staggering 11,701,281 shares shorted while trading a total of 99,146,054 shares as show the on FTNT short page.

According to our proprietary algorithm during the last five trading days there were 4 short days, 0 days with no change but 1 cover days. Over the last ten trading days there were 7 short days, 2 days with no change but 1 cover days. The last twenty trading days there were 9 short day, 7 days with no change but 4 cover days.


Fortinet Inc. (NASDAQ: FTNT) Short Squeeze Result

The short indicator utilizes several factors before determining a result and because of these indications we have placed a short trend indicator of FTNT Short Squeeze.


Fortinet Inc. (NASDAQ: FTNT) Short Squeeze Data

Twenty Day trading Totals

Total Shorted Volume11,701,281
Total Actual Volume99,146,054
Total Volume Discrepancy72,238,010

Short Trends

Cover Days4
Short Days9
No Change Days7

Averages

Average Volume Discrepancy3,611,900
Average Short Volume585,064
Average Short Percentage46%

The Short Trend Indicator

Squeeze Reports short trend indicator utilizes several different trading factors including, short data, trade data, short analysis and short probability. So become a member of Squeeze Report if you want to to gain access or know more about the short trend indicator and other short trading tools.


Fortinet Inc. (NASDAQ: FTNT) Chart


Disclaimer

This article is for the purposes of solicitation subscriptions for Squeeze Report. The company Squeeze Report expects to generate new advertisement revenue resulting from the distribution of this article. The amount of which is unknown at this time. Squeeze Report or it’s authors do not own any shares of Fortinet Inc. (NASDAQ: FTNT) and does not buy, sell, or trade any shares of FTNT. This article does not provide a professional analysis of a (FTNT) financial position. (FTNT) financial position and all other information regarding the featured Company should be verified directly with (FTNT). Please read our full disclaimer for more detailed information.