Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Most Meme Stocks Look to Extend Gains, AMC, Koss Up 4%

Published 2021-08-25, 08:00 a/m
Updated 2021-08-25, 08:00 a/m
© Reuters

© Reuters

By Dhirendra Tripathi

Investing.com – Most of the favorite shares of retail traders, popularly known as meme stocks, looked set for another day of gains after surginig on Tuesday.

AMC Entertainment (NYSE:AMC) and Koss (NASDAQ:KOSS) were up 4% each while GameStop (NYSE:GME), Virgin Galactic (NYSE:SPCE) and BlackBerry (NYSE:BB) were all up 2% in Wednesday’s premarket trading. Clover Health (NASDAQ:CLOV) was up 0.7%.

AMC, GameStop and Clover Health booked double-digit gains Tuesday while Blackberry (TSX:BB) rose 9.5%.

GameStop soared 27% Tuesday to book its biggest spike in 5 months, with no identifiable news trigger.

Two stocks, Robinhood (NASDAQ:HOOD) and Contextlogic (NASDAQ:WISH) were trading lower premarket though they had also risen a day earlier, by 9% and 6.4%, respectively.

There has been little by way of news to drive the rally in any of the above stocks, except for Naked Brand (NASDAQ:NAKD), whose chairman talked up a possible sale to a larger company earlier this week.

The lack of any firm news has left the stocks at the mercy of short-term momentum plays based on hearsay and opinion but little else.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.