Why Party City Stock Popped Today

Shares of Party City (NYSE: PRTY) were moving higher today, though there was no direct news out on the stock. Instead, a short squeeze seemed to be propelling the stock higher. The stock is heavily shorted with 41% of the float bet against, and shares closed up 9.2% today high on volume.

Party City stock plunged in November as the company reported disappointing third-quarter earnings. It blamed soft Halloween results, and helium shortages, as balloons are a significant component of the company's business.

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Source Fool.com