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Outlook: The ‘meme’ Stocks


#meme #stocks


The WallStreetBets (WSB) community has been and is a powerful force in the market since January, causing many investors to reevaluate their positions and institutions to reconsider shorting their market.

Some of the biggest names in play over the past several months have been GameStop Corp. (NYSE:GME) and AMC Entertainment Holdings Inc. (NYSE:AMC). The WSB community has often targeted companies that are heavily shorted, crowding that trade and forcing a short squeeze. While these companies were the 1st round of WSB targets, the community has expanded from there into more stocks.

GameStop holders saw a solid gain on the day with shares up about 3% at 216.50. The 52-wk range is 3.77 – 483.00. The other major staple to the meme stock portfolio, AMC, saw its shares up about 5% at 56.65, within its 52-wk range of 1.91 -72.62.

Other notable include Workhorse Group Inc. (NASDAQ:WKHS), ContextLogic Inc. (NASDAQ:WISH), and Senseonics Holdings, Inc. (NYSE:SENS).

Here, Workhorse stock last traded up about 11% at 17.33, ContextLogic stock was up over 5% at 14.82, and Senseonics stock was up about 5% at 4.03.

Monday, Vertex Energy, Inc. (NASDAQ:VTNR) was the biggest loser out of the group with shares down over 4% at 8.91, with a 52-wk range of 0.40 – 10.88.

Have a positive 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.