UWMC - UWM Holding stocks gains traction with the meme stock crowd

UWM Holdings ([[UWMC]] +8.5%) stock rises as much as 14% in Wednesday trading as the Reddit/WallStreetBets crowd gives the stock some attention.In early afternoon trading, more than 18M shares have traded, three times' its three-month average daily volume.Like many of the meme stocks, UWMC has a high amount of short interest — ~22%, recently, and has been mentioned on social media as a short-squeeze candidate.And while today's gain appears dramatic, the stock had declined 23% (at Tuesday's close) from its open on Jan. 22, its first day of trading as a public company after merging with SPAC Gores Holdings IV.SA contributor Dean Young looks at UWMC's fundamentals and considers it well-positioned to pivot from refinance to the home purchase market.

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UWM Holding stocks gains traction with the meme stock crowd