In the latest sign a weeks-long trading frenzy could be reaching a boiling point, shares of Clover Health skyrocketed to a new record high Wednesday and then crashed into negative territory for the day as Reddit traders pile into a growing swath of so-called meme stocks.... [+]Clover shares skyrocketed 26% at Wednesday's market open after surging 86% Tuesday, pushing the stock's three-day gain to more than 200% before reversing to a loss of as much as 10% on the session by 10:30 a.m.
The stock's increased volatility coincides with increasingly bearish bets against it, with short interest indicating that nearly half of shares available to trade are held by investors who can only make money if the stock's price falls, according to financial data platform Ortex, far more than the short interest in the leading meme stocks AMC and GameStop.
The stock headlined the r/WallStreetBets board's most popular tickers Wednesday, alongside fresh Reddit target Clean Energy Fuels, which was up 27%, and meme-stock staple BlackBerry, which was off 6%. The board also featured formerly bankrupt Twinkie-maker Hostess Brands, which climbed to a four-year high Wednesday, and fast-food giant Wendy's, which led a Tuesday rally but is now sinking 10%.
As Reddit traders have shifted focus to new meme stocks, shares of AMC and GameStop have held onto staggering gains of 1,700% and 2,500% this year, respectively.Now in its third week, the latest wave of frenzied retail trading has confounded experts who are increasingly unsure how long it could last.
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Clover Health’s Stock Price Surges After Becoming New Reddit DarlingIndividual investors are targeting the SPAC-listed company, hoping it catches similar momentum to AMC and GameStop. Isn’t that the company that’s facing an SEC investigation and a boatload of reputation problems? If so, that Chamath guy is better than the CCP Ponzi up ⬆️
Source: WSJ - 🏆 98. / 63 Read more »
Stitch Fix, Coupa Software, Clover Health, Tesla: What to Watch When the Stock Market Opens TodayClover Health Investments shares soared premarket after emerging as the latest target for retail traders on Reddit forums The desire for COVID19 to be natural is so powerful, that even if one could decipher a hidden code in the sequence that read 'THEUSMEDIAISAJOKE' it would not make a difference to many of Dems. To the liberal orthodoxy, any opinion unblessed by their leaders is a Big Lie.
Source: WSJ - 🏆 98. / 63 Read more »
Clover Health jumps 14% in premarket trading as frenzy continues. Shares are up 150% this weekThe stock rose 86% on Tuesday and was up more than 100% during the session. Shares also jumped 32% on Monday. Many gods, persons, creatures, magicians, priests, prophets, politicians, psychologists, writers, etc, have tormented all the infinite past and all the infinite future, to make another kind of peace, love, truth, and eternity. They did not make it. Does not exist. Based on no fundamentals $CLOV This will make a lot of millionaires
Source: CNBC - 🏆 12. / 72 Read more »
Newest meme stock darling Clover Health is popping. Is the SEC watching?Clover Health is poised for a monster open on Tuesday after soaring more than 32% on Monday, cementing its status as the latest meme stock birthed by the... There is only ONE GameStop. When GME explodes, it will blow all others out the water. Im locked and loaded for $BB myself stfu
Source: MarketWatch - 🏆 3. / 97 Read more »
Lebanon's Hezbollah chief Nasrallah reassures supporters over his healthLebanon's Hezbollah chief Sayyed Hassan Nasrallah reassured supporters that he was well on Tuesday after coughing episodes during his last speech caused concerns about his health. What a disappointment 😇 Maybe next time🤞
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South Africa's health minister put on special leave over graft allegationsSouth African President Cyril Ramaphosa put his health minister, Zweli Mkhize, on special leave on Tuesday, after allegations that his department irregularly awarded COVID-19-related contracts to a communications company controlled by his former associates. The number of Chinese that contracted Covid is minuscule on per capita basis than 98% of rest of the world. The odds lean heavily to the scenario that China was well prepared for a deliberate spreading of this virus. They shut down China and promoted Worldwide travel from Wuhan!
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