Heavily-Shorted Tanger Outlet Suddenly Jumps Amid r/WallStreetBets Mentions
r/WallStreetBets crowd appears to have targeted another heavily shorted stock Thursday morning. Shares of Tanger Factory Outlet Centers (SKT) are up 7% in the cash session after rising as much as 25% to 22.25 in the premarket.
SKT received more than 1,000 mentions from the WallStreetBets forum on Reddit, according to Swaggy Stocks, a sentiment indicator for the popular investing forum.
One of the reasons WallStreetBets has targeted SKT is due to the short interest is currently around 33% float, down significantly this year from 50%.
GME, RKT, PLTR, TSLA, and AMC are among other popular stocks the WallStreetBets board discusses this morning.