Particular person buyers on the hunt for the subsequent stock-market win piled into Carver Bancorp Inc., sending shares of the banking-services firm hovering greater than 200% on Thursday.

Carver Bancorp’s inventory value hit $38.87, its highest intraday degree in additional than 10 years, as particular person buyers scooped up shares in hopes of compacting bearish buyers out of the inventory. The inventory closed Wednesday at $10.58.

New York-based Carver Bancorp is the holding firm for Carver Federal Financial savings Financial institution, one of many largest African-American-operated banks within the U.S. The inventory has skilled an increase briefly sellers wagering in opposition to it. Brief curiosity within the inventory jumped to 68% of the inventory’s free float, in line with FactSet, making it one of the crucial shorted shares by that metric throughout the New York Inventory Change and the Nasdaq. Round this time final yr, quick curiosity in Carver Bancorp hovered round 15%.

Piling into shares with excessive percentages of quick curiosity has change into a go-to technique for particular person buyers this yr after they despatched GameStop Corp. catapulting higher in January.

Brief sellers are buyers who guess in opposition to a inventory by borrowing shares and promoting them, hoping to purchase them again later at a lower cost. However quick sellers could be burned by such bets when a inventory begins rising, forcing them to purchase again shares to restrict their losses. That, in flip, can drive the inventory larger many times—creating a brief squeeze.

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