Smile Direct Club stock has been volatile in the last couple of weeks with an increase in trading volume. From 10 Million volume last week of September 13, 2021, to 60 million volume trading on September 20, 2021.
There is no fundamental news or catalyst that is moving the stock price. The increase in short interest and retail momentum adding millions of volume in the stock.
The SDC stock opened at $7 per share and with the massive volume, it went all the way up to $7.36. The stock is currently trading lower around $6.85 due to the small sell-off.
The amount of short shares available to borrow and FTD (Fail to deliver) is decreasing. This can lead to a squeeze in a stock rapidly, especially if the borrowing rate is also going higher.