Shares of Angi (NASDAQ: ANGI) jumped by 13.5% Thursday even though there was no news out the home-services marketplace operator. Instead, a short squeeze appeared to be driving the stock's move, as there was unusually high trading volume in it during the session.
Image source: Angi.
Trading volume for Angi was 3.1 million shares for the session, nearly triple its normal level and its highest volume in more than four months. That's a strong sign that a short squeeze played a role in the action Thursday, as 13% of the float (8.7 million shares) is sold short. In other words, a meaningful percentage of investors are betting that the stock will fall.
Source Fool.com