What's Going On With DatChat's Stock?

DatChat Inc 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 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.