SMJ International Investigates Trading Irregularities as Short Interest Drops 63%
SMJ International is investigating irregular trading on Feb. 17 and confirmed no undisclosed developments. Short interest plunged from 215,350 to 80,260 shares (2.97% float), while shares trade over 70% below their 20- and 50-day moving averages, reflecting heavy selling pressure.
1. Investigation of Unusual Trading
SMJ International Holdings detected irregular trading activity on February 17 and has launched an investigation. The company confirmed there are no undisclosed developments driving the recent volume spike and does not plan corrective action at this time.
2. Plunging Short Interest
Short interest in SMJ shares fell dramatically from 215,350 to 80,260 shares, representing just 2.97% of the float. With a one-day short ratio, remaining short sellers could cover positions quickly, reducing the likelihood of a sustained short squeeze.
3. Technical Chart Signals
Shares are trading more than 70% below both the 20-day and 50-day simple moving averages, indicating pronounced weakness. The RSI sits at 13.70, marking oversold conditions, while the MACD at -0.4236 below its signal line signals ongoing bearish momentum.
4. Recent Listing and Stock Performance
SMJ began trading on NYSE American on December 4, 2025, after raising $10.82 million at $4 per share. Year-to-date, the stock is down 71.41%, trading closer to its 52-week low, with key support at $1.00 and resistance at $4.50.