Wayfair ( NYSE: W ) Inc. broker higher on Monday along with some other retail stocks with a high level of social media interest. The rally coincided with what has been an amid ongoing battle between shorts and longs.
The surge in meme stocks included some short squeeze and gamma squeeze action, according to traders.
Shares of Wayfair ( W ) ended the day up 15.23% to $71.80 after trading as high as $72.86. It was the first time Wayfair ( W ) swapped hands at over $70 since the early part of May.
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Why did Wayfair stock soar today? Momentum stocks staged a comeback