Why Wheeler Real Estate Investment Trust Stock Is Soaring

Wheeler Real Estate Investment Trust, Inc. WHLR shares are trading higher Thursday after the company posted redemption forms for the company's Series D Preferred Stock.
The Details:
Wheeler Real Estate Investment Trust posted two forms that any holder of the company's Series D Cumulative Convertible Preferred Stock may complete and submit in order to request that the company redeem shares of Series D Preferred Stock.
The company also stated that redemption will begin in October 2023.
Wheeler Real Estate announced on Sept. 1 that it had received a notification letter from Nasdaq stating that it had regained compliance with the Nasdaq minimum bid price listing requirement.
According to data from Benzinga Pro, WHLR has a float of only 749,075 shares and more than 14.4 million shares have already been traded in the session.
Related News: Why Tesla Stock Is Moving Higher Today
WHLR Price Action: According to Benzinga Pro, Wheeler Real Estate Investment Trust shares are up 68% at $7.64 at the time of publication.
Image: Clker-Free-Vector-Images from Pixabay