Retailer Express More Than Doubles Amid Reddit Speculation
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Apparel retailer Express Inc. skyrocketed, extending its meteoric rally with record volume as retail investors touted the company across various social media platforms including Reddit message boards.
Shares of Columbus, Ohio-based Express rallied 132% Monday after gaining for a third week. The stock had advanced 97% this year through Friday. More than 350 million shares traded hands Monday, a fresh record after Friday’s all-time high of about 77 million shares. The volume today is about 38 times the amount that changes hands on an average day for Walmart Inc.