VRM - Heavily-shorted Vroom revs up on surge in volume

Vroom, Inc. (NASDAQ:VRM) shares ran higher on Monday as volume spiked above the normal trend. The Houston-based online auto retailer’s stock popped over 14% on Monday’s market open, running higher on a spike in volume shortly after the market open to trade about 4M shares in the first 5 minutes of trading. Notably, the micro cap stock was one of Monday’s most active premarket trades.The rebound in shares recouped much of the significant losses felt on Friday amid an over 9% decline.  The stock has traded in a volatile manner over the past week, most notably surging over 36% on June 23 after the election of a new board. Still, the stock has fallen over 95% in the past year, bringing the long-term viability of the business into question. Short interest on the stock stands at over 30% of its float, according to recently aggregated data. Read more on recent

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Heavily-shorted Vroom revs up on surge in volume