What Happened with WHLR?
Wheeler Real Estate Investment Trust Inc. ($WHLR). shot up 65% on Friday without any news released. This shouldn’t be too much of a surprise if you’ve read our posts in the learning center. Wheeler broke out of a double bottom base (although it was a little shallow) on 8/21/2020, then investors took profits while the stock cooled off into a flat bottom right before this breakout.
Why Did WHLR soar?
There is not much news lately on the company, however there are social media rumblings on Twitter where people are mentioning WHLR along with the likes of GameStop after the GME fiasco over the past two weeks, so there is reason to believe that some retail investors have targeted Wheeler.
There are no posts on subreddit WallStreetBets specifically about it, so it’s not likely to be a large movement like GME was last week. The closest source we could dig up is a post about shorts on the subreddit StockMarket that may have triggered retail investors to gain interest in the stock.
What else do we know about Wheeler Real Estate Investment Trust ?
-WHLR headquarters are in Virginia and it was formed for acquiring, financing, devleoping, leasing, owning, and managing commercial real estate for producing income.
-Most of the real estate is leased by regionally recognized retailers of consumer goods such as Food Lion, CVS, and TJ Maxx