Carver Bancorp (CARV), a leading African and Caribbean American-owned depository institution, is a relatively new meme stock that is gaining traction among retail investors due to high short interest in it. So, will the company be able to deliver sustainable returns over the long term? Read more to find out.New York City’s Carver Bancorp, Inc. (CARV) is the holding company of certified minority depository institution Carver Federal Savings Bank. The federally chartered savings bank has been designated a Community Development Financial Institution by the U.S. Treasury Department owing to its community-focused banking services.
As one of the most shorted stocks in the market, CARV is currently being targeted by retail investors to trigger a short squeeze.
Approximately 68.2% of CARV’s floating shares have been sold short, which has attracted meme stock investors. It is a frequently discussed stock across popular Reddit forums r/pennystocks and r/wallstreetbetsHIGH. The stock has gained 119.1% over the past five days, and 234.4% year-to-date, to close yesterday’s trading session at $21.70.