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Why Clovis Oncology Stock Is Rocketing Higher Today

TheMotleyFool

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Why Clovis Oncology Stock Is Rocketing Higher TodayPhoto, wide shot, wide-angle lens, Biotech company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/80e18bfd-1ff8-4487-af62-1cdb7de1ceb6.png

Shares of Clovis Oncology (NASDAQ: CLVS), a commercial-stage biotech, were up by a healthy 15.6% as of 10:27 a.m. EDT Wednesday morning. The biotech's shares are ripping higher today due to the WallStreetBets subreddit crowd.

The main attraction for the WallStreetBets folks appears to be Clovis' sizable short interest. At last count, almost a third of the company's float was sold short, per the Nasdaq stock exchange, making it an intriguing short squeeze candidate.

Image source: Getty Images.

Source Fool.com

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