LOTZ - CarLotz stock falls despite speculation about short squeeze

Online used-car seller CarLotz (LOTZ) fell in early trading Thursday, reversing a 7%+ gain the day before as social media claimed the stock was subject to a short squeeze.LOTZ fell to $6.88 shortly after the market’s 9:30 a.m. ET opening, down 2.3% from Wednesday’s close at $7.04.CarLotz stock has been volatile in recent days despite little apparent news, dropping Monday and Tuesday by a total of 9.8% and 18.7% between April 8 and Tuesday’s close at $6.57.However, the stock then reversed gears on Wednesday and rose 7.2% to $7.04.The company, which went public in January via a SPAC deal, plans to release its earnings on May 10 after the bell. It also announced plans Thursday to open its first California brick-and-mortar site in Bakersfield.That said, postings on social-media platforms like Twitter and StockTwits attributed Wednesday’s gains to at least some players attempting a short squeeze ahead of LOTZ’s earnings report.“Squeeze

For further details see:

CarLotz stock falls despite speculation about short squeeze