WPG - PREIT stock flies to 52-week high Washington Prime shares slip

PREIT (PEI) stock soars as much as 33% to ~$3.42, its highest point since the pandemic battered mall REIT stocks in February 2020, and ~140% above its 200-day simple moving average.Some 16.5M shares changed hands by ~11:24 AM ET, almost 12x its three-month daily average.On Tuesday afternoon, Will Meade, self-described as a former hedge fund manager, posted on Twitter that PREIT is one of the "cheapest re-opening plays left."Also take into account that PREIT has a short interest of ~19%, which could make it a candidate for a short squeeze.Since May 24's close, PREIT has climbed 41%; on May 25, an SEC filing disclosed that John R. Saunder's holds an 8% stake in PREIT, up from 5.4% in a February filing.Meanwhile, mall REIT Washington Prime (WPG) stock drops 16%, easing off of a 114% rally on Tuesday. WPG has a ~31.7% short interest, and with only 24.46M shares outstanding, its stock tends to be volatile.with reporting

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PREIT stock flies to 52-week high, Washington Prime shares slip