Clover Health (NASDAQ:CLOV) stock is on the rise Friday as retail traders online discuss the company’s potential for a short squeeze.
All of this kicked off today when Twitter user Spac Guru pointed out that CLOV stock has a short interest of 148.94%.
— Spac Guru (@SpacGuru) April 16, 2021
$CLOV – Funds will never learn…
Short Interest at 148.94%. How is that even possible? https://t.co/Lu3ffXFr9D
— SpacBobby (@SpacBobby) April 16, 2021
— Thea L (@theainvest) April 16, 2021
It didn’t take long for Twitter userGurgavin Chandhoke to chime in with some extra data backing up the claims. They include a screenshot from Bloomberg confirming a roughly 150% short interest in CLOV stock.
— Gurgavin Chandhoke (@gurgavin) April 16, 2021
With this talk spreading on Twitter, many users are wondering if CLOV stock has the potential to be the next GameStop (NYSE:GME). If you’ve somehow missed out on that news, GME got a major boost earlier this year when the WallStreetBets Reddit jumped on it as a short squeeze. These retail traders managed to push the stock to nearly $350 before it came crashing back down. Even so, shares of GME are still trading much higher than before the short squeeze.
It looks like retail traders are hoping to repeat this success with CLOV stock. As a result, it’s seeing incredibly heavy trading today. As of this writing, more than 176 million shares of the stock have changed hands. That’s a massive spike compared to its daily average trading volume of roughly 16 million shares.
CLOV stock was up 16.7% as of Friday afternoon but is still down 45.2% since the start of the year.
It’s unclear if r/WallStreetBets will end up jumping in on a possible CLOV stock short squeeze, but there are plenty of other stocks that Reddit loves.
Various subreddits exist that handle stock discussions. That includes WallStreetBets, Penny Stocks, and more. A few recent stocks of interest for these subreddits include Discovery Inc. Series B (NASDAQ:DISCB), Plug Power (NASDAQ:PLUG), and Cinedigm (NASDAQ:CIDM). Investors can learn more about these stocks below.
More Reddit Stocks
- DISCB and 6 Other Reddit Stocks Waiting for a Short Squeeze
- Momentum and Meme Stocks: How to Find the Next Top Reddit Stock of 2021
- Reddit Penny Stocks That Actually Look Pretty Reasonable
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.