Express (NYSE:EXPR) stock is surging higher on Monday as social media investors boost the stock higher.
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Here’s about the recent rise in EXPR stock.
- Social media investors have been flocking to retail stocks and pushing them higher with shorts.
- Express, a retailer based out of Ohio, is not immune to this as shares of EXPR stock have been on the rise lately.
- The push for these shares to go higher comes from groups across various websites, such as Reddit.
- There’s actually a whole subreddit dedicated to this kind of trading called WallStreetBets (WSB).
- These investors make use of the Robinhood app as it offers quick access to the stock market and makes trading easy.
- Keeping this in mind, EXPR stock has traded more than 177 million shares as of this writing.
- To put that in perspective, its daily average trading volume is 7.3 million shares.
- EXPR stock is far from the only company targeted by these investors.
- GameStop (NYSE:GME) has also seen a surge in its stock as the WSB subreddit boosts shares higher.
- This actually led to a conflict with Citron Research founder and analyst Andrew Left.
- Left took a bearish stance on GME stock and that upset some of these investors.
- He was then allegedly targeted and doxxed by them and Citron Research decided to stop covering the stock as a result.
EXPR stock was up 98.9% as of Monday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
