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CLOV Stock: Clover Health Gets Some Short-Squeeze Juice

Clover Health (NASDAQ:CLOV) stock is on the rise Friday as retail traders online discuss the company’s potential for a short squeeze.

short-squeeze stocks illustration of a person wringing out a business man on a yellow cartoon backdrop with dollar bills falling

Source: Shutterstock

All of this kicked off today when Twitter user Spac Guru pointed out that CLOV stock has a short interest of 148.94%.

This was initially met with skepticism by other users on the social media website. However, other accounts on the website also jumped in to talk about the short squeeze potential for CLOV stock.

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.

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

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2021/04/clov-stock-clover-health-gets-some-short-squeeze-juice/.

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