Heavily shorted Tanger Outlet stock pops 20% in sudden move, then pulls back


Tanger Outlets in National Harbor, Md.

Mark Gail | For The Washington Post | Getty Images

Shares of Tanger Factory Outlet Centers surged 20% in early trading on Thursday before retreating toward its previous closing level, becoming the latest heavily shorted stock to make a rapid move higher this year.

The retail stock was up about 2% in afternoon trading. Earlier in the day, it appeared to be following in the footsteps of other names with large bets against them, including GameStop and, more recently, Rocket Companies.

“It’s today’s Rocket,” CNBC’s Jim Cramer said on “Squawk on the Street.” The “Mad Money” host also said that he liked Tanger’s management team.

Tanger is one of the most


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