- The stock price of BEST Inc (NYSE: BEST) increased by over 2% today. This is why it happened.
The stock price of BEST Inc (NYSE: BEST) – a company that operates as a smart supply chain service provider in China – increased over 2% today. And the trading volume of the company shares hit over 30 million compared to an average of around 6.4 million.
There was no company-specific news driving the stock price up so it appears there are external factors at play. In this case, it appears that investors who are active on social media platforms have been driving up the stock price.
BEST has especially become a favorite amongst the Reddit community. There has been a recent uptick in discussions about BEST being a potential candidate for a short squeeze due to its relatively high short float percentage.
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