- The stock price of Carver Bancorp Inc (NASDAQ: CARV) increased by 21.06% yesterday. This is why it happened.
The stock price of Carver Bancorp Inc (NASDAQ: CARV) – one of the largest Black-operated banks — increased by 21.06% yesterday, going from a previous close of $21.89 to $26.50. This is a continuation of momentum as the company stock price increased 136.23% over the past 5 trading days.
The surge in the stock price is being driven by retail investors coordinating a short squeeze on the company shares. Retail investors on social media platforms like Reddit, StockTwits, Discord, and Facebook discovered that the company has a high percentage of its shares sold short.
As of late June, the company’s stock had over 65% of its float shorted. And it appears that discussions around coordinating a short squeeze have been surfacing since around that time.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.