Corsair Gaming (NASDAQ:CRSR) stock is taking off on Monday after Reddit picked the company as one of its new favorite meme stocks.
WallStreetBets, the top stock trading subreddit, has been talking about CRSR stock all morning. As of this writing, it’s the most-talked-about stock on the subreddit with 686 mentions over the last four hours.
With extra interest from Reddit comes higher trading of CRSR stock. That’s resulted in more than 21 million shares of the stock changing hands as of Monday morning. For comparison, the stock’s daily average trading volume is about 1.3 million shares.
Keeping that in mind, here’s everything potential investors need to know about CRSR stock.
- Corsair Gaming is a company that makes PCs, PC parts, and accessories targeted at gamers.
- It also offers a wide range of streaming gear for those going that route as well.
- The Elgato brand of streaming devices belongs to Corsair Gaming.
- To go along with that, it has software for PC and Mac to support its devices.
- While the company’s major focus is on PC gaming, it also offers accessories for console gaming as well.
- That includes headsets and other devices compatible with Xbox, PlayStation, and Nintendo gaming consoles.
- It also has a strong position in the market with a 41.9% share in the PC component space.
- The company’s place in the peripheral market share has it holding 18.3% of it.
- Recent earnings results include it reporting revenue of $1.7 billion for the full year of 2020.
CRSR stock was up 14.7% as of Monday morning but it’s only up 6.8% since the start of the year.
There still more stock market news for today that investors should check out below.
We’re still in the early hours of trading but that doesn’t mean there’s nothing to talk about yet. The most recent news includes what to expect from the market today, vaccine news sending Novavax (NASDAQ:NVAX) higher, as well as Elon Musk Tweeting about Bitcoin (CCC:BTC-USD) again.
More Monday Stock Market News
- What Will the Stock Market Do Today? 3 Big Stories to Watch.
- NVAX Stock: The Huge Vaccine News Helping Novavax Shoot Higher Today
- Elon Musk Bitcoin News: The Clean Energy Tweet Sending BTC Prices Higher
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.