DatChat Inc (NASDAQ:DATS) is surging higher Thursday as retail traders circle a short report issued by Culper Research.
Culper Research announced that it took a short position against DatChat, citing troubles with the management team and lackluster user growth numbers.
1) We're short DatChat $DATS. Full report available https://t.co/4MDshx5BeT. $DATS is run by CEO Darin Myman, who previously ran two other public companies - BigString (BSCG) and Wally World Media (WLYW) - into the ground. Myman has now recruited the same crew to $DATS. pic.twitter.com/qGKX5QkjJd
— Culper (@CulperResearch) October 14, 2021
Following the announcement, the stock surged higher and was halted for volatility.
The "FinTwit" community is circling the report and salivating at the opportunity to induce a short squeeze.
"FinTwit" is an abbreviated term for "Financial Twitter," which consists of the community of traders and investors who use the Twitter Inc (NYSE:TWTR) platform to share ideas and discuss all things finance related.
One of the most popular members of the "FinTwit" community, @MrZackMorris, said "This monster squeeze coming will go down in history." He also issued a series of explicit tweets directed at the Culper Research Twitter account.
DatChat is a communication software company. It's focused on its mobile messaging application that provides a traditional messaging platform while providing users with complete privacy and control features for their sent messages.
DATS Price Action: DatChat was up 7.36% at $11.82 at time of publication.