Jul. 8, 20213 min read

$CARV-ing Out the Details of the Latest Short Squeeze

Written by Staff
  • Retail traders flock to Black-owned financial institution…
  • Prominent retail investing influencer highlights short-interest…
  • Why r/WallStreetBets isn’t talking about this squeeze…

The squeeze is on for Carver Bancorp Inc (NASDAQ: CARV) as retail traders flock to the stock. 

$CARV surged as much as 251% in morning trade and was up more than 130% at writing. 

The jump comes after a prominent influencer in the retail trading space highlighted the massive short-interest in the stock last week. 

Squeeze Begins

In a tweet on June 28, former hedge fund manager Will Meade pointed out that $CARV was the most shorted stock on the market that day with a 68% short interest.

In that tweet, he said he was long on the Black-owned financial institution saying, “let’s make shorts pay”.  

Data from MarketWatch shows the stock remaining the most shorted on the market as of today, with the short-interest sitting around 60%.

But this squeeze isn’t getting the usual attention we’ve seen in the past with others like $GME, $AMC, or $CLOV. 

WallStreetBets Shuns $CARV

So why isn’t r/WallStreetBets talking about this stock? The simple answer is that it’s too small. 

When one user mentioned the ticker on the popular subreddit earlier today, a bot quickly replied warning that $CARV is a banned ticker. 

The bank doesn’t qualify to be discussed on the feed because its market cap is under $1 billion. 

But another subreddit dedicated solely to $CARV was abuzz about today’s moves. 

Six Nuggets About Carver Bancorp

  • Carver Bancorp is one of the largest Black-owned financial institutions in the U.S.
  • The bank’s CEO says, “A group of community leaders, business owners, and clergymen from Harlem and Brooklyn came together in 1948 to establish Carver because African Americans did not have a place to bank at that time.”
  • Its headquarters are located in Manhattan with branch locations throughout New York City
  • It is dedicated by the Treasury Department as Community Development Financial Institutions (CDFI) for its “community-focused banking services and dedication to the economic viability and revitalization of underserved neighborhoods.”
  • JPMorgan Chase invested in Carver Bancorp in February to “support economic empowerment in communities of color”
  • Carver Bancorp partnered with Bank of America and Blackrock to launch a “social impact credit facility” in June. 

Featured image credit: Leremy/