American Airlines spikes 31% as Reddit traders direct their attention toward another heavily shorted stock mfox@businessinsider.com (Matthew Fox)
American Airlines spiked as much as 31% on Thursday as a short-squeeze rally took hold.
The company had announced better-than-expected fourth-quarter earnings on Thursday. AAL the next GME? one Reddit user said in a post on Wednesday. AAL the next GME? one Reddit user said in a post on Wednesday.
After squeezing hedge-fund managers out of GameStop, Reddit investors have set their sights on other highly shorted companies.
American Airlines seems to have fit the bill, with about 30% of the float sold short.