ITT
ITT Inc.
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ITT: dipshits discover how time zones work

ITT: dipshits discover how time zones work

Yeah that’s my take as well. Ultimately idk, nobody does, but I can see some increased action today since it’s the last day of the quarter and maybe these funds are trying to meet some internal deadlines (which I honestly expected to happen today), similar to what tanrock said ITT. He’s framing it as funds downsizing though whereas I’m framing it as short hedging. In truth it’s very likely both—and they both out the same pressure on the stock anyway—but to what extent nobody can know.
In theory any of these holders might not actually expect a selloff but they’re just managing their risk, as I would expect. If they have good gains before a major event it’s prudent to lock in some of those gains. I’m not personally, simply because I’m not a professional and I’m yoloing on this stock with my own money lmao. But of course many of these funds are already at their beneficial ownership caps and can’t own anymore (via warrant execution) without the repercussions therefrom, so they short instead to lock in their gains.

They didn’t teach this at ITT Tech

ITT: People pissed off that Iran is losing and that oil isn’t going to $300/bbl