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Source: Roman Tiraspolsky / Shutterstock.comBlue Apron (NYSE:APRN) stock is rising on Wednesday as investors weigh the shares’ potential as a short squeeze.
Blue Apron has been seeing quite a bit of positive movement lately without any news behind it. That’s led some traders to latch onto it as a short-squeeze target to pump up.
Backing up this idea is coverage from Will Meade. He owns a Twitter (NYSE:TWTR) account with more than 294,000 subscribers. Meade often covers stocks with short-squeeze potential and is a former hedge fund manager.
It’s also worth mentioning that Blue Apron is set to hold an investor conference today. That conference will start at 11:30 a.m. Eastern Time and investors are pushing the stock higher ahead of its launch.
What Else is Affecting APRN Stock Today?
That news, combined with the other short squeeze factors, has APRN stock seeing heavy trading on Wednesday. As of this writing, more than 9.4 million shares of the stock have changed hands. To put that in perspective, the meal kit company’s daily average trading volume is about 2.9 million shares.
Traders will also note that APRN stock hasn’t seen heavy trading like this in some time. When the short squeeze was in effect Monday, over 3.6 million shares had traded hands. That put it at the highest trading volume the stock had seen in six months.
APRN stock is up 10.7% as of Wednesday morning.
There’s more recent stock market news worth diving into below!
We’ve got all of the latest stock market coverage traders need to know about for Wednesday! A few examples include why shares of ZIM Integrated Shipping (NYSE:ZIM) stock, Hyzon Motors (NASDAQ:HYZN), and Cassava Sciences (NASDAQ:SAVA) stock today. You can get all the details from the following links!
More Wednesday Stock Market News
- Why Is ZIM Integrated Shipping (ZIM) Stock Down Today?
- Why Is Hyzon Motors (HYZN) Stock Down Today?
- Why Is Cassava Sciences (SAVA) Stock Up 20% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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