Why Is National Beverage Surging 27% Higher Today?

Shares of National Beverage (NASDAQ: FIZZ) are soaring 27% higher heading into midday trading Wednesday, seemingly making it the latest stock to catch short-sellers in a squeeze. Although National Beverage's 52% gain so far in 2021 is no match for the stratospheric rise in GameStop's (NYSE: GME) shares, which are up 685% year to date, the owner of La Croix sparkling water is also a heavily shorted stock with nearly two-thirds of its shares outstanding sold short. The short interest ratio in National Beverage, or the number of days it would take short-sellers to cover their position, is a hefty 27 days (anything over seven days is considered a lot), which suggests short-sellers are being squeezed.