WeShop Holdings Ltd ( WSHP ) shares are trading higher on Friday.

The community-owned social commerce platform on Thursday announced it will release its first quarterly earnings report as a public company on April 28.

Massive Trading Volume Spikes

Market activity for WSHP is significantly higher than usual. Friday’s volume reached six million shares. This far exceeds the average daily volume of 690,565 shares.

The surge comes amid a positive day for the broader indices. The Nasdaq is currently up 1.64%. Meanwhile, the S&P 500 has gained 1.39%, providing a favorable backdrop for growth stocks.

Technical Analysis

WeShop ( WSHP ) is still trading far below its prior 52-week peak of $250 and closer to the lower end of its range of $4.95. The stock is trading 121.6% above its 20-day simple moving average (SMA) and 73.1% below its 100-day SMA.

Over the last 12 months, the stock has been down 45.81%.

Key Resistance: $18.50

Key Support: $13.50

WSHP Price Action: WeShop Holdings ( WSHP ) shares were up 15.88% at $16.53 at the time of publication on Friday. The stock is near its 52-week low of $4.95, according to Benzinga Pro data.