The leading gainer Thursday in our meme stock portfolio was Meta Materials Inc. (NASDAQ:MMAT). The company had no news, but CEO George Palakiris continues to delight some retail investors with his Tweets. For some stocks, that is all there its and it is enough.
Another of the day’s gainers was Virgin Galactic Holdings Inc. (NYSE:SPCE), despite a FAA investigation into a deviation from the flight path of the space flight that carried Sir Richard into space. The company was able to deflect some of the weight such an investigation typically brings by announcing a crewed mission for later this month or in October to study the effects on the human body of “the transitional phase from gravity to microgravity.”
Workhorse Group Inc. (NASDAQ:WKHS) traded higher Thursday, despite a revelation Wednesday from a short seller that an SEC investigation into the company is continuing. Short seller Fuzzy Panda Research also alleged in a letter to new Workhorse CEO Richard Dauch that the company, under former CEO Steve Burns, did not have deposits or purchase orders for the backlog Workhorse claimed.
Workhorse traded up about 2.0% to 9.3o, in a 52-wk range of 7.07 – 42.96. The trading volume was 11-M+ shares.
Have a happy, healthy holiday weekend, Keep the Faith!