Why Ollie's Bargain Outlet Jumped 10% Today
Shares of Ollie's Bargain Outlet (NASDAQ: OLLI) bounded 10% higher on Monday on no apparent news, but the stock has a high short interest. As the stock has more than doubled since mid-March, there may be pressure on shorts to cover their position.
Ollie's hit a 52-week low in March, losing nearly three-quarters of its value from highs it hit last year. While it did fall sharply in March, the discount retailer had been trading lower since the beginning of the year.
Image source: Ollie's Bargain Outlet.
Source Fool.com
