Clover Health is featured on the Nasdaq.
Clover Health shares jumped again in futures trading on Wednesday. It’s still going strong for the Medicare stock that has become a favorite of traders on Reddit.
Clover was trading at $25.19 per share in futures, up 14% from its previous close.
The stock was up 86% on Tuesday and was up more than 100% during the session at one point. Shares were also up 32% on Monday.
The company’s stock has been in trouble after a short selling report from Hindenburg Research in February. S3 Partners said more than 40 percent of its shares were sold on Tuesday, making Clover a target for retailers looking to cause a short-term squeeze. short
Before becoming the focus of retailers, Clover typically had daily trading volumes below 10 million as of Tuesday. The company’s shares changed hands more than 700 million times.
Clover went public last year through a merger with special-purpose vehicles. The company is one of a number of SPAC-related deals involving billionaire investor Chamath Palihapitiya.
The stock was up 146% in the week through Tuesday’s close.
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