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2021-06-14
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'Meme stock' rally pauses, Redditors focus on biotech stocks
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n'Meme stock' rally pauses, Redditors focus on biotech stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-14 19:28</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>June 14 (Reuters) - Small-time stock traders turned their attention to the biotech and healthcare sectors on Monday, lifting shares of some by as much as 10%, while the rally in stocks that were favored in recent weeks appeared to fade.</p><p> Of the top 10 stocks trending on trading-focused social media site Stocktwits, vaccine developers Novavax Inc and Vaxart Inc were in the third and fourth spots, respectively, with message volume on Vaxart up 9.7% and nearly 97% of them reflecting a positive sentiment.</p><p> Shares of Novavax jumped 10.3% in premarket trading as the company also reported late-stage data from a U.S.-based clinical trial showing its vaccine was more than 90% effective against COVID-19 across a variety of variants of the virus. </p><p> Individual traders on forums such Reddit's WallStreetBets have acted in concert this year to bid up shares of heavily shorted stocks, triggering a phenomenon known as a \"short squeeze\", which pushes up stock prices even more.</p><p> Video game retailer GameStop Corp and cinema operator AMC Entertainment , which were at the center of the so-called \"meme stock\" rally this year, have seen their share price soar more than 1,100% since the end of December.</p><p> AMC shares were up 3.5% in early deals after jumping more than 300% in the past three weeks. 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Of the top 10 stocks trending on trading-focused social media site Stocktwits, vaccine developers Novavax Inc and Vaxart Inc were in the third and fourth spots, respectively, with message volume on Vaxart up 9.7% and nearly 97% of them reflecting a positive sentiment. Shares of Novavax jumped 10.3% in premarket trading as the company also reported late-stage data from a U.S.-based clinical trial showing its vaccine was more than 90% effective against COVID-19 across a variety of variants of the virus. Individual traders on forums such Reddit's WallStreetBets have acted in concert this year to bid up shares of heavily shorted stocks, triggering a phenomenon known as a \"short squeeze\", which pushes up stock prices even more. Video game retailer GameStop Corp and cinema operator AMC Entertainment , which were at the center of the so-called \"meme stock\" rally this year, have seen their share price soar more than 1,100% since the end of December. AMC shares were up 3.5% in early deals after jumping more than 300% in the past three weeks. GameStop shares rose 1.1%, while Vaxart was up 1.6%. Shares of gaming equipment maker Corsair Gaming Inc jumped 12.5%. The company - which has a short interest of 18.25% of free float, according to Refinitiv data - was the top trending stock on Stocktwits, with a 26.9% jump in message volume. 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