Wheeler Real Estate IT (NASDAQ:WHLR) stock is rocketing higher on Wednesday despite a lack of news from the commercial real estate investment trust (REIT).
Investors will note that there are no new press releases that explain why WHLR stock is up today. The same holds true on filings with the Securities and Exchange Commission (SEC). Likewise, there’s no new analyst coverage that could be behind today’s rally.
Despite all of that, shares of WHLR stock are gaining alongside heavy trading on Wednesday. As of this writing, more than 6 million shares of the company’s stock have changed hands. That’s quite the surge in trading volume compared to its daily average of 563,000 shares.
What to Know About WHLR Stock
Wheeler Real Estate IT business mainly focuses on owning and operating retail properties that produce income. That includes grocery-anchored shopping centers. The company’s business is mostly contained to the East Coast with operations spread between Florida and Massachusetts.
Wheeler Real Estate IT operates 78 shopping centers across 15 states. In total, the company has more than 8 million square feet of retail space under its control. Leading the company is CEO Andrew Franklin, who joined WHLR in 2014 and has more than 20 years of experience in the industry.
WHLR stock is up 115.7% as of Wednesday morning but was down 93.7% year-to-date when markets closed on Tuesday.
Investors looking for even more of the hottest stock market stories today are in luck!
We’re offering up insight into all of the biggest pre-market stock movers for Wednesday! Among that is what has shares of Tempest Therapeutics (NASDAQ:TPST) stock rising today, the biggest pre-market stock movers this morning and more. All of that news is available at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
