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Meme Stocks: Robinhood Markets the Big Winner

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FILE PHOTO: The Reddit logo is seen on a smartphone in front of a displayed Wall Street Bets logo in this illustration taken January 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

#stocks#meme

$HOOD $SOFI $AMC $WISH

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!

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Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.