Technology

Carver Bancorp (CARV): High Short Interest Sparks Squeeze?

Carver Bancorp CARV is one of the oldest and largest Black-owned financial institutions in the US. The company was founded in 1948, and is headquartered in the Harlem neighborhood of New York City.

Shares soared on Thursday. CARV was up over 200% at one point in morning trading, and the stock closed the day up 106.9% to $21.89 per share. Trading volume increased to 69.2 million shares compared to the past 30-day average of 1.1 million shares, and the stock was halted nine times this morning because of volatility.

Former hedge fund manager Will Meade recently pointed out on Twitter TWTR that CARV is one of the most shorted stocks in the marketplace. Short interest currently sits at about 60%, and retail investors are now betting big, as a short squeeze looks to be in play for CARV.

There’s now a subreddit dedicated to the bank’s shares, r/carvstock. Little mention has been made of CARV on the ultra-popular thread r/WallStreetBets because its market cap is less than $1 billion.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>


Click to get this free report

Twitter, Inc. (TWTR): Free Stock Analysis Report

Carver Bancorp, Inc. (CARV): Get Free Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Technology Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More