Antelope Enterprise (NASDAQ:AEHL) stock is seeing massive gains on Wednesday as Reddit takes an interest in it as a new meme stock.
There’s plenty of chatter over on Twitter (NYSE:TWTR) from traders that are discussing the short-squeeze potential of AEHL stock. With that talk comes more interest and we’re also seeing more trading of AEHL shares.
Antelope Enterprise has currently moved more than 15 million shares of its stock as of this writing. That’s a massive jump compared to the company’s daily average trading volume of only about 1.1 million shares.
Now let’s get to the real question: What does Antelope Enterprise do?
Antelope Enterprise is a Chinese company that specializes in making ceramic tiles. That includes those used for “exterior siding, interior flooring, and design in residential and commercial buildings.”
There’s no recent news that would explain why retail traders are latching on to AEHL stock today. It’s also worth pointing out that the company is firmly in the penny stock range with shares trading at about 5.74 as of this writing.
Keeping those two things in mind, I have to warn you about the potential danger of investing in AEHL stock. Penny stocks are already easy targets for pump and dump schemes and with the power of social media that’s even easier to do. Only the most risk-averse of traders will want to consider trying to jump into the stock right now.
AEHL stock was up 42.9% as of Wednesday morning.
Of course, there are plenty of other investments worth considering today.
Reddit is still rallying meme stocks so there’s plenty of potential there. That includes for investors interested in Root Insurance (NASDAQ:ROOT), ContextLogic (NASDAQ:WISH), Clean Energy Fuels (NASDAQ:CLNE), and others. Check all of that out below!
More Wednesday Reddit Stock News
- ROOT Stock: 14 Things for Investors to Know About Root Insurance as Shares Surge
- Meme Stocks: What’s Going on With WISH, WEN, CLOV, CLNE and WKHS Today?
- CLNE Stock: Why Jim Cramer Thinks Clean Energy Fuels Is the Meme Stock of the Day
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That’s because these “penny stocks” are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com’s writers disclose this fact and warn readers of the risks. Read More: Penny Stocks — How to Profit Without Getting Scammed