Shares of Tanger Factory Outlet Centers (SKT) are up $4.51, or 25%, to $22.25 in premarket trading as the stock receives attention from the traders on the WallStreetBets forum of Reddit that has been attributed as a source of recent volatility in a number of heavily-shorted names, such as GameStop (GME) and Rocket Companies (RKT). According to Swaggy Stocks’ WallStreetBets ticker sentiment data, Tanger currently has the fifth-most comments on the WallStreetBets board, with 1.08K mentions, following only the SPDR S&P 500 ETF Trust (SPY), GameStop, Rocket and Palantir (PLTR).
Tanger Factory (SKT) will be today’s Rocket Companies (RKT) given the 32% short position in the name, CNBC’s Jim Cramer says. Tanger Factory shares are up 23% to $21.76 in premarket trading. Rocket Companies rallied earlier in the week as investors focused on the percent of shares sold short.
Bullish option flow was detected in SKT stock on March 4, 2021.