Some stocks are rising due to meme stocks. Here’s why.
Who would’ve thought a Reddit community could WallStreetBets (which grew by 500,000 users in the past three days), to drive “meme stocks” causing short sales and short squeezes. And it’s not just GameStop. Other companies, like AMC and Nokia, have also been affected by the coordinated surge.? Video game retailer of nearly $373 a share on Wednesday, having regularly been below $20 per share this year. Why is this happening now? Because small investors are using Reddit communities, like
No, this doesn’t mean you should necessarily drop everything and fully invest in one of these companies. Some are calling theand the stock price will likely drop once the hullabaloo dies down. In fact, broker TD Ameritrade on Wednesday in response to the runaway growth.
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If you do decide to dive into the stock market — and we’re not advising you in either direction — here are some, and some .
Part of what’s so unusual about the GameStop stock spike is the vocabulary that’s been used to drive the trading action.
Here’s a sampling, and what the terms mean:
Stonks is often associated with Meme Man, pictured.
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