Reddit stocks just won’t stop rising higher as retail investors continue to push some of r/WallStreetBets’ favorite picks up.
GameStop (NYSE:GME) is leading the charge with a strong increase after revealing plans to refocus its business on digital sales. This news was actually announced yesterday and GME stock is still continuing to ride higher from it today.
The positive news for GameStop and the rising price of its shares has renewed interest in other Reddit stocks. Among these is Express (NYSE:EXPR), which also got a boost yesterday but is taking quite a beating in morning trading on Tuesday.
AMC Entertainment (NYSE:AMC) is next up on the list of Reddit stocks on the rise. However, it actually has its own news from yesterday pushing it higher. Wedbush analyst Michael Pachter doubled his price target for AMC stock from $2.50 per share to $5 per share.
Koss (NASDAQ:KOSS) is experiencing a wild ride today even without any news concerning the company. Just like with many of the other stocks heading higher today, it appears that KOSS stock is riding on GME coattail. The same was true yesterday with shares of the stock gaining greatly. The difference here is KOSS is seeing sharp increases and decreases in its price today.
Finally, let’s get Naked Brand Group (NASDAQ:NAKD) covered. The stock was rising alongside its Reddit peers this morning on a lack of news before a nosedive. However, shares are already recovering. The stock has struggled lately and pressure on intimacy due to the coronavirus could hurt the undergarments company in the long run.
GME stock was up 22.8%, EXPR stock was down 12.4%, AMC stock was up 5.4%, KOSS stock was flat, and NAKD stock was up 1.3% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.