Fred's, Inc. (FRED) which operates discount general merchandise stores in the southeastern United States, such as; Fred's Super Dollar Stores and Pharmacies and Fred's Xpress Pharmacies scored a new FusionIQ short squeeze yesterday as shares traded up on close to 2x its normal 21-day average volume. With close to 20.00 % of its float short and a point and figure target of $ 23.50, FRED shares offer investor solid upside potential.
FRED shares shot up after reporting on Thursday that its same-store sales rose 4.6 percent in July, beating Wall Street analysts' estimates on higher traffic.
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