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.

Image source: Getty Images.

Continue reading

Source Fool.com