ODP Shares Face Critical Test at $28 Resistance Level

ODP Corporation shares are experiencing heightened volatility as they hover around the $28 price threshold, creating a battleground between institutional investors making substantial position changes and skeptical market analysts. While several major funds have dramatically increased their holdings—one by nearly 940%—research firms remain cautious about the office supply retailer’s prospects.

Recent regulatory filings reveal aggressive accumulation of ODP shares by institutional investors during the second quarter. Y Intercept Hong Kong Ltd. executed the most dramatic move, boosting its stake by 935.6% to reach 103,599 shares valued at $1.88 million. This substantial purchase was part of a broader trend among major investment firms.

Other significant institutional increases included Allianz Asset Management (up Read more...