Tootsie Roll (NYSE:TR) stock is soaring higher on Wednesday as it joins the growing list of stocks that Reddit WallStreetBets is boosting higher.
Here’s what potential TR stock investors need to know about the situation.
- Tootsie Roll is seeing incredibly high trading today with more than 4 million shares of TR stock changing hands.
- For some perspective, that’s a massive spike compared to its daily average trading volume of only about 220,000 shares.
- All of this comes as retail investors on r/WallStreetBets go about holding shares of stocks that have been the target of short-sellers.
- The social media group’s collective power has allowed it to boost the prices of various stocks incredibly high and reap the profits.
- It started with video games earlier this week as WSB investors made GameStop (NYSE:GME) stock its first major target.
- Now those shares are up almost 1,5000% over the last month.
- Another target for WallStreetBets investors is AMC Entertainment (NYSE:AMC).
- Shares of that stock started to see positive movement after markets closed yesterday.
- Now, the stock is continuing to rally today as investors continue to hold onto the shares.
- Before TR stock started to jump, these same investors were also sending shares of Eastman Kodak (NYSE:KODK) stock higher today.
- All of this point towards TR stock seeing massive growth over the next few days as Reddit WallStreetBets will likely push it even higher.
TR stock was up 14.5% as of noon Wednesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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