Meme Stocks Go Their Own Way For A Day  

11 Jun 2021

Meme Stocks Go Their Own Way For A Day  

By Dhirendra – 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.

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