On Thurday, June 3rd, GTT communications hit a high of 86%.
GTT Communications, Inc. engages in the provision of cloud networking services to multinational clients. It offers broad portfolio of global services including private networking; Internet; optical transport; Software Defined Wide Area Networking; managed services; voice and unified communications; video transport; and access services.
The short float of GTT is 20% with nearly 10 million shares short.
GTT Communications may file bankruptcy
The company has been in discussion of filing bankruptcy reported on SeekingAlpha. It seems the numbers of their business is fading away. Shareholders were not interested in a share restructure.
GTT Communications is WallStreetBets next target?
GTT communications could be WallStreetBets next target, while AMC is down 30%, GTT is up 58%.
The WallStreetBets crew may put GTT next in line for reviving.