Feb 3, 2021
‘Meme Stocks’ Rally Again With Penny Plays Leading the Way
Bloomberg News
,(Bloomberg) -- Stocks recently targeted by retail investors soared again Wednesday as millions of shares changed hands. Penny stocks with a low amount of tradeable shares lead the charge.
Among the advancing stocks, GameStop reversed an early decline to rise 12% after it named a former Amazon Web Services engineering leader to a top tech position
- Tyme Technologies more than doubled and almost 150 million shares traded after the biotech was granted patent claims related to a Covid-19 treatment
- Low-float penny stock Sellas soared as much as 61% after Reddit mentions (volume more than 25 million shares)
- Healthier Choices Management, a vaping company and health food store operator, rose 21% as about 3.4 billion shares changed hands; the pink sheets company has 105 billion shares outstanding
- Castor Maritime +3.7% (vol. >41m)
- Corbus Pharmaceuticals +13% (vol. >17m)
- AMC Entertainment +14% (vol. >65m)
- Headphones and loudspeakers maker Koss +50%
- Cannabis firm Tilray +20% after recent mentions in the WallStreetBets and PennyStocks sub-Reddits
- Peer Sundial Growers +28% also mentioned
- Swimwear and underwear retailer Naked Brand +12%
- Retailer Express +14%
- A handful of former daytrader favorites slipped. Covid-19 vaccine developer Vaxart tumbled 62% after a vaccine update. The stock had soared more than 1,500% in 2020; other stocks that were retreating included:
- Ocugen fell 21% after an 80% rally on Tuesday driven by a vaccine deal
- Genius Brands -3.9%
- BlackBerry -4.1%
- XpresSpa, an airport spa operator which pivoted to Covid-19 testing, fell as much as 5.8%
Related
- GameStop’s Giant Bubble Deflates Further After $27 Billion Rout
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