Meme stocks loved by Reddit traders are on the move today and it’s not all rainbows and sunshine as some of them are losing steam.
Reddit has been rallying shares all week long and boosting them higher in massive short squeezes. While some stocks are still on the rise, others appear to have run their course and are starting to fall back to previous levels.
Let’s take a look at how some of the most popular Reddit stocks are performing on Friday.
Reddit Stocks on the Move
- AMC Entertainment (NYSE:AMC) stock is still on the rise Friday with shares heading more than 2% higher as of this writing. Heavy trading also has some 187 million shares changing hands. For perspective, the stock’s daily average trading volume is about 131 million shares.
- GameStop (NYSE:GME) stock could be doing better today as shares decrease over 1% from yesterday’s close. The company has seen nearly 2 million shares traded today. That’s well below its daily average trading volume of 14.4 million shares.
- BlackBerry (NYSE:BB) stock is getting it the worst today with one of Reddit’s favorites falling over 5% as of this writing. That comes alongside heavy trading of the shares with some 104 million having changed hands. That’s more than the daily average trading volume of 28.6 million shares for the stock.
While the meme stock rally might not continue, that doesn’t mean there aren’t other short squeeze targets to consider. Vinco Ventures (NASDAQ:BBIG) and Xeris Pharmaceuticals (NASDAQ:XERS) are both likely candidates for further short squeezes. You can learn more about them at these links.
Of course, we’ve also got coverage of other stocks on the move Friday.
Several companies are seeing shares move today and we’ve got the latest news. That includes what’s happening with Churchill Capital (NYSE:CCIV), The9 Limited (NASDAQ:NCTY), and Tesla (NASDAQ:TSLA). You can see all of that info at the links below!
More Friday Stock Market News
- CCIV Stock: What the Bulls and Bears Are Saying Ahead of the Lucid Motors Deal
- NCTY Stock: The Clean Crypto Mining Deal That Has The9 Limited Flying Today
- TSLA Stock: 13 Things We Know About the Tesla Restaurants Buzz
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.