Weber stock jumps more than 25%, heads toward best day ever

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Shares in Weber Inc. WEBR, +27.23% shot toward their biggest one-day gain on record in Thursday afternoon trading. The grill maker’s stock was more than 25% higher in late trading, which would easily be its best day on Wall Street since going public roughly a year ago — shares rose 17.8% from the IPO price in their first day of trading, and have not experienced a stronger single-day percentage gain since. Shares moved higher earlier this month after an unexpected quarterly loss led to the company planning cost cuts, including cutting workers and suspending its dividend. Weber has also been mentioned as a stock with high short interest and a small stock float, a setup that traders who gather on Reddit have been known to target for stocks such as Bed Bath & Beyond Inc. BBBY, -19.63%

This article was originally published by Marketwatch.com. Read the original article here.

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