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Meme Stocks Go Their Own Way For A Day  

Stock MarketsJun 11, 2021 18:27
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© Reuters

By Dhirendra Tripathi

Investing.com – Meme stocks showed no particular trend so far in Friday’s session with most relatively subdued in signs of a fatigue on the last day of the week.

Clover Health (NASDAQ:CLOV) rose 7%, modest by the standards of meme stocks. Shares of the Medicare insurance start-up had doubled during Tuesday’s session before closing the day with 86% gains.

AMC Entertainment (NYSE:AMC) rose 6%, GameStop (NYSE:GME) 2% and BlackBerry (NYSE:BB) 1%.

In the negative were Contextlogic (NASDAQ:WISH) which was down 6.5%, World Wrestling (NYSE:WWE) 5%, Clean Energy Fuels (NASDAQ:CLNE) 3% and Wendy’s (NASDAQ:WEN) 2%.

The Reddit mania for these stocks is now more than six-months old but shows no signs of abating.

Not every meme stock has a fundamental story to tell barring the common thread of being heavily shorted.

They have also continued to stay at elevated levels, though many have come off significantly from their peaks.

Meme Stocks Go Their Own Way For A Day  
 

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Cedric Cedric
Cedric Cedric Jun 11, 2021 21:45
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Strong finish , let see if the momo traders switch from short to long next week. Btw Clov is clearly a trap behaving opposite to the original meme stocks.
 
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