Heavily Shorted Tanger Outlet Stock Pops 20% In Sudden Move

Shares of Tanger Factory Outlet Centers surged 20% in early trading on Thursday, becoming the latest heavily shorted stock to make a rapid move higher this year. The retail stock could be following in the footsteps of other names with large bets against them, including GameStop and, more recently, Rocket Companies. “It’s today’s Rocket,” CNBC’s Jim Cramer said on “Squawk on the Street.” The “Mad Money” host also said that he liked Tanger’s management team. Tanger is one of the most heavily shorted U.S. stocks, according to FactSet, with short interest of 33%. Stocks with high short interest have been the focus of traders on social media, primarily Reddit, in recent months. Read more at CNBC.