(NASDAQ: MULN) is looking to revolutionize the EV market through its solid-state battery. $RDBX getting more momo/attention now - SD AugMULN StockĪ promising EV manufacturer, Mullen Automotive Inc. Despite the lagging volume, RDBX’s short data shows that its in a good position for a squeeze but presents significant risk to investors given the likely approval of its acquisition deal. RDBX’s current price action seems to be reflecting investors uncertainty leading up to the shareholders vote on August 9th. The RSI is moving up from 39 currently and accumulation is trending down after traders sold their shares when the stock spiked on the 25th. It looks likely that RDBX will break through its support now that the MAs have completed a death cross. Since then the stock has retested its support at 4.35 and has continued down trending. ![]() RDBX Stock Short DataĬurrently trading at $4.36, RDBX saw huge demand on the 25th which pushed the stock up 113%. To stay up to date on the future of RDBX, check out our article on the company. ![]() Since the stock surged from around $5 to $15 when CSSE’s acquisition deal was first announced, there could be a run up after the deal is finalized but there will likely be a sell off as investors sell abandon the company leading up to the deal. Some investors are holding out hope that the deal will fall through and a better deal will emerge, pointing to the JetBlue Airways and Spirit Airlines merger deal which came to fruition only after its merger with Frontier Airlines fell through due to the lack of shareholder support.Īs the vote is quickly approaching, RDBX stock could be one of the best Reddit short squeeze stocks to watch in anticipation of the vote. However, the deal must be consummated before the October 31st deadline unless there is an extension. If the deal is approved, Redbox stockholders will own approximately 23.5% of the resulting company. Many shareholders believe that this is an unfair deal since RDBX would be acquired by Chicken Soup in a stock for stock deal which would give Redbox stockholders a fixed exchange ratio of 0.087 class A common stock of CSSE per RDBX share.
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