Warnings From Behind The Curtain zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
GameStop Sees Highest WallStreetBets Interest Heading Into New Week; Clover Health, AMC, Wish Other Top Trends GameStop Corp. (NYSE:GME)
, Clover Health Investments Corp. (NASDAQ:CLOV) and
AMC Entertainment
Holdings Inc. (NYSE:AMC) are seeing the highest interest on Reddit’s r/WallStreetBets forum, even as overall discussions on the forum remained muted.
What Happened: Videogame retailer GameStop was the most-discussed stock on the forum with 156 mentions during the last 24 hours at press time, data from Quiver Quantitative showed.
Medical insurance technology company Clover Health took the second spot with 136 mentions, followed by movie theatre chain AMC Entertainment with 117 mentions.
By Lu Wang and Vildana Hajric
If you think a rush by companies to sell their shares is a bad omen for the market, imagine a scenario where most of the sales come from firms that don’t make money.
It’s happening now. Since the end of March, almost 100 unprofitable companies, including GameStop Corp. and AMC Entertainment Holdings Inc., have raised money through secondary offerings, twice as many as coming from profitable firms, according to data compiled by Bloomberg.
Bloomberg
Granted, troubled companies are tapping into buoyant demand during a 16-month rally to beef up their balance sheets. And it’s further evidence that the capital market functions as smoothly as it’s supposed to. Yet some warn that the flood of shares coming from money losers is becoming extreme.
3 Stocks That Are On The Retail-Investor Radar Today
GameStop Corp (NYSE:GME):
The video game retailer was the original short squeeze target of WallStreetBets in January and is seeing renewed interest. This year, the board of GameStop saw a rehaul after
Chewy Inc (NYSE:CHWY) Ryan Cohen, who owns a 13% stake in the company, pushed for changes.
At press time, GameStop topped the charts of the most discussed stonks on WSB with 170 mentions, ahead of
Clover Health Investments Corp (NASDAQ:CLOV) and
AMC Entertainment Holdings Inc (NYSE:AMC), respectively.
GameStop shares closed 1.32% lower in Friday’s regular trading at $209.51. Its shares have soared 1,012% since the year began.
Virgin Galactic (SPCE) Stock Up 40% on Friday and Up 6% Today in Pre-Market coinspeaker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from coinspeaker.com Daily Mail and Mail on Sunday newspapers.