Evolus, Inc. (EOLS) is up again today following FDA approval of its first product, Jeuveau, on Friday. The stock was up over 25% at the time this content was recorded. Part of this rally is likely due to the fact that the stock had a large percentage of short positions. In fact, nearly a fifth of available shares of the stock were committed to short positions prior to FDA approval, suggesting that many traders did not anticipate the company succeeding. However, with FDA approval secured and the product likely to go to market by spring 2019, it seems likely more shorts will be forced to exit as buyers continue to push the stock higher. Here’s a recap.

about the author:

Mike Patton

Mike Patton took the leap into the markets beginning as a commodities broker in 2005, where he was responsible for identifying trading opportunities and executing trades on behalf of clients. After years as a broker he made the jump to education by joining the team at Trading Advantage, now Prosper Trading Academy.

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