- The stock price of Tanger Factory Outlet Centers Inc. (NYSE: SKT) has increased by over 40% pre-market. This is why it happened.
The stock price of Tanger Factory Outlet Centers Inc. (NYSE: SKT) – a leading operator of open-air upscale outlet shopping centers that owns, or has an ownership interest in, a portfolio of 38 centers – has increased by over 40% pre-market as of 7:48 AM ET. The reason why the stock price is up is largely due to the r/WallStreetBets community on Reddit.
Investors in that community appear to be coordinating a short squeeze on SKT stock. This is the same community that drove up the stock prices of companies like GameStop, AMC, and BlackBerry in late January. Tanger is one of the most shorted stocks by major hedge funds.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
