• Trading volumes on WSHP spike massively amid a lack of catalysts.
• WSHP is on track to nearly quadruple in value this week.
• Stocktwits users bet on momentum to continue at least until the company reports earnings.

Shares of WeShop Holdings (WSHP) are drawing heavy retail attention as the stock heads toward its best weekly performance since late November, on track to nearly quadruple in value over five sessions.

WSHP posted its best session of the year on Thursday, surging over 73% to close at roughly $14, though it remains a long way from its record high of around $250, last seen about five months ago.

Trading volumes have surged to nearly 241 times the three-month average, and the stock was last trading roughly 40% higher in overnight trading heading into Friday.

WSHP At A Glance

WeShop operates a social e-commerce platform that lets users become company stakeholders by shopping from brands listed on its site. The company went public in November last year and earlier this week said it would release its first earnings report as a public company on April 28.

Currently, no Wall Street analysts cover the stock, and no earnings estimates are immediately available.

What's Driving WSHP Higher?

The rally appears to be a mix of social media momentum and mechanics. Traders have been buzzing about the possibility that short sellers are getting squeezed ahead of earnings. Still, several have spotted that a straightforward explanation may be the stock's extremely thin public float.

WSHP has roughly 1.3 million shares in public circulation, of which only about 56,000 are shorted, representing 4.2% of the float and just 0.20% short interest overall, per Koyfin. With so few shares available to trade, even modest buying pressure can produce outsized price moves, making the stock highly susceptible to momentum-driven swings in either direction.

WSHP Retail Sentiment

On Stocktwits, retail sentiment turned ‘extremely bullish’ from ‘bullish’ amid a 37x rise in messaging volume, and a more than 100% jump in watchers on the platform over the last 24 hours.

One user thinks the stock could touch $100 before it reports earnings later this month.

One user on the platform calls the stock a good pick for a swing trade.

The stock is down 85% so far this year and 52% since going public in November last year.

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