Meme Stocks: Robinhood Markets the Big Winner



Robinhood Markets Inc. (NYSE:HOOD) were the most heavily traded shares on US exchanges, according to data from Fidelity. Buyers had placed 58% of the trade orders.

Robinhood Markets (HOOD 63.12, -7.27): -10.3% after filing a 97.9-M share A common stock shelf offering by selling shareholders. HOOD shares climbed 50% Wednesday.

SoFi Technologies Inc. (NASDAQ:SOFI) is scheduled to post quarterly earnings next wk, and investors appear determined to boost the stock’s price ahead of the August 12 report. According to Fidelity data, 56% of Wednesday morning’s trade orders were buys. The past couple of trading days have generated some “buy-the-dip” action, for the 3rd time in the past 3 wks.

AMC Entertainment Holdings Inc. (NYSE:AMC) cannot stop its decline. The stock has dropped more than 50% since early June. The interesting thing about Wednesday’s action is that 70% of orders on Fidelity are buy orders. As the share price goes down, demand for the shares rises.

ContextLogic Inc. (NASDAQ:WISH) also traded lower Wednesday. While the company’s share price fall has not been as long as AMC’s the picture it Bearish.

Have a prosperous day, Keep the Faith!