Why GrowGeneration Stock Is Jumping Today
Shares of GrowGeneration (NASDAQ: GRWG) were jumping 11.7% higher as of 11:26 a.m. EDT on Wednesday. The hydroponic gardening retailer didn't announce any news, so what's behind its big gain? One possible reason is that short-sellers could be covering their positions. As of Sept. 15, 2020, nearly 13% of GrowGeneration's stock float was sold short.
If we're seeing the makings of a short squeeze for GrowGeneration stock, the main unanswered question is: Why? On the surface, there doesn't appear to be any reason for investors to suddenly think the company's prospects are better than they were earlier this week.
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Source Fool.com
