Weber Shares Are On Fire Today: What's Going On?

Weber Shares Are On Fire Today: What's Going On?

Weber Inc WEBR shares are heating up Thursday on above-average volume as traders circle high short interest in the name across social media platforms. 

The outdoor cooking company is trending in several places. The stock was among the top trending tickers on Stocktwits at last check. Weber was also among the most mentioned stocks on Reddit's r/wallstreetbets over the last 24 hours. 

Former hedge fund manager Will Meade took to Twitter Inc TWTR on Thursday, calling Weber the next Bed Bath & Beyond Inc BBBY

According to short interest data shared by Meade, Weber has the highest short interest of any stock in the market. Fintel data shows that current short interest stands at 55%. Benzinga previously highlighted Weber as a short-squeeze candidate. 

Related Link: 5 Short Squeeze Candidates To Watch This Week: Singing Machine Company, Revlon And More

Meade also points out that Weber has a billionaire investor backing it in Microsoft Corp MSFT co-founder Bill Gates

Weber's average session volume over a 100-day period is 897,457, according to Benzinga Pro. Thursday's trading volume has already exceeded 17.5 million at press time.

WEBR Price Action: Weber has a 52-week high of $13.08 and a 52-week low of $5.72.

The stock was up 26.8% at 9.97 at press time, according to Benzinga Pro.

Photo: Pexels from Pixabay.

Posted In: Bill Gateswhy it's movingWill MeadeSmall CapMoversTrading Ideas