Digital Brands (NASDAQ:DBGI) stock is climbing higher on Wednesday despite a lack of news from the women’s apparel company.
Investors will note that the company hasn’t put out any press releases on Wednesday. There are also no new filings with the Securities and Exchange Commission (SEC) that explain why the stock is rallying. In addition to that, analysts aren’t offering any new coverage of DBGI stock today.
And despite all of this, shares of DBGI stock are seeing increased activity today. As of this writing, more than 1.5 million shares of the stock have changed hands. That’s quite the increase compared to its daily average trading volume of about 39,000 shares.
While there’s no news from Digital Brands, the stock is seeing a hefty amount of chatter online. It’s actually one of the top trending stocks over on StockTwits, and posts on the social media platform point to this movement possibly being the result of a short squeeze. Fintel lists the company’s short interest at 10.42%.
What to Expect From DBGI Stock
While today’s possible short squeeze has shares rising higher today, there’s no guarantee it will keep those gains. Stocks that undergo short squeezes often give up some of the positive movement in the days following. That means traders will want to be careful about investing in DBGI stock while it’s up today.
DBGI stock is up 54.7% as of Wednesday morning but is down 91.7% year-to-date as of Tuesday’s close.
Investors searching for more of the latest stock market news today will want to keep reading!
We’ve got all of the hottest stock market news worth knowing about on Wednesday! Among that is what’s happening with shares of Brookfield Real Assets (NYSE:RA), Outlook Therapeutics (NASDAQ:OTLK), and Top KingWin (NASDAQ:TCJH) stock today. All of that news is available at the links below!
More Wednesday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
