Blue Apron Holdings Inc (NYSE: APRN) shares are trading higher on above-average volume Wednesday amid increased retail interest as investors discuss the stock's short-squeeze potential on social media.
Blue Apron stock is trending across social media platforms as investors highlight high short interest in the name. It was the top trending ticker on Stocktwits at last check. 28.22% of the float is currently sold short, according to data from Benzinga Pro.
Benzinga previously identified Blue Apron as a potential short squeeze candidate after noticing increased short interest and rising cost to borrow.
Blue Apron's average session volume over a 100-day period is about 6.25 million. Wednesday's trading volume has already exceeded 12.5 million at publication time.
Blue Apron is a United States-based company that prepares meals with fresh seasonal ingredients and sends them directly to customers who are interested in discovering new recipes, ingredients and cooking techniques.
APRN Price Action: Blue Apron has a 52-week high of $9.21 and a 52-week low of $2.27.
The stock was up 21.9% at $6.11 Wednesday afternoon.
Photo: courtesy of Blue Apron.
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