Why GoodRx Holdings Stock Went Up More Than 15% in January

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Shares of GoodRx Holdings (NASDAQ: GDRX) went up 15.6% in January, according to data provided by S&P Global Market Intelligence. The company did make a couple of investor presentations during the month and even scored an analyst upgrade. But these events didn’t correspond with the stock’s biggest moves. From Jan. 21 through Jan. 26, GoodRx stock was up 21%.

GoodRx stock’s gains did, however, correspond with a major stock market event. GameStop stock also made its biggest moves during late January. At that time, almost any stock with a lot of short interest received a pronounced boost. This applies to GoodRx stock as well. According to Yahoo! Finance, almost 29% of the stock’s float is sold short and it would take more than six trading days for shorts to cover. That’s not anywhere close to what GameStop’s short interest was, but it’s still a lot.

Image source: Getty Images.

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