NEW YORK: More than a year after retail investors, aided by social media, forced an epic squeeze of a handful of heavily shorted stocks, a few of the famous “meme” stocks were back in the fast lane this week. GameStop Corp surged 14.5% on Wednesday and AMC Entertainment Holdings ended the session up 13.6%. While … Read more
Back in May, a Reddit poster hit WallStreetBets with a sure-thing tip on Scorpio Tankers Inc. The oil shipper, trading at one-fifth the value of its assets, was a screaming buy with storage rates soaring, insiders leveraging up and oil vaulting back after briefly going negative. There’s an opportunity to see “100% returns within the … Read more
By Cristin Flanagan Biotech mania has overtaken internet chat rooms, pushing aside recent retail trading stars GameStop Corp. and Express Inc. Cassava Sciences Inc. nabbed the top spot as best microcap stock performer this year with an almost 680% rally. The small drug developer now has a market value of nearly $2 billion after briefly … Read more
It’s rare that a herd of retail traders push back the stronger hedge funds. Synopsis In September 2020, activist investor and founder of online pet food portal Chewy, Ryan Cohen bought 13% in the company. The GameStop incident has caught the attention of markets, regulators and governments worldwide. It has been a classic financial power … Read more