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GameStop tumbles, Clover Health rises in 'meme stock' rollercoaster

Reuters2021-06-10

June 10 (Reuters) - Shares of GameStop fell 7.36% and Clover Health Investments jumped 6.15% in early deals on Thursday, setting the stage for another rollercoaster session for stocks favored by small-time investors on social media platforms.

Videogame retailer GameStop on Wednesday named the head of Amazon's Australian business as its CEO and said it may sell new shares after it reported quarterly results that were stronger than expectations.

Its shares were trading at around $279 premarket after closing Wednesday at $302.56, near levels hit in January when the Reddit-driven frenzy sent its stock up 1,600%.

The rally in heavily shorted U.S. stocks, which has also lifted shares of Medicare-backed insurance seller Clover Health and cinema operator AMC Entertainment , has drawn the attention of the U.S. Securities and Exchange Commission.

GameStop said on Wednesday that the SEC had requested documents and information related to an investigation into that trading.

Clover Health, which had a short interest of 43.5% of free float as of Tuesday, was up 5.9% at around $17.92 before the bell. It ended Wednesday at $16.92 after hitting a record high of $28.85 during the session.

In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.

Shares of AMC Entertainment were down 6.0%, while prison operator Geo Group - the latest "meme stock" - slumped 8.5% after surging 38% on Wednesday.

(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Sriraj Kalluvila)

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评论41

  • TianLu
    ·2021-06-11
    Will it go up again? 
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    • eseah88
      Lets hope so!
      2021-06-12
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  • Meshaarias72
    ·2021-06-10
    Like n comment pls
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  • PoPi
    ·2021-06-10
    Up
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  • PohYew
    ·2021-06-10
    Pls like and comments, thanks.
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  • am_newbie
    ·2021-06-10
    When can $BlackBerry(BB)$move on? 
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  • Wallstrtbets
    ·2021-06-10
    Keep going.
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  • JoelLee
    ·2021-06-10
    Please like and reply! Thanks!
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  • Uday
    ·2021-06-10
    Buy buy
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  • mebugsbunny
    ·2021-06-10
    Like and comment 
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  • TK63
    ·2021-06-10
    Up up 
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  • dannynggg
    ·2021-06-10
    Like and comment thanks 
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  • 6413eadb
    ·2021-06-10
    Always hodl
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  • 2020TS
    ·2021-06-10
    Clover Health 🚀
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  • Leonster10
    ·2021-06-10
    The real focus is on GME people..forget the only distractions. The number of shorted shares for GME is 20% of floating stock. This is the legit proof already. Once the legit shares are counted over next few days. Short sellers are gonna cry mama...
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  • IcebearStonk
    ·2021-06-10
    AHT is the next climb
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    • IcebearStonk
      both are moving in the recent days
      2021-06-10
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    • ZEROHERO
      AHT & IVR as property industry is the recovery sector
      2021-06-10
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  • Darious
    ·2021-06-10
    Keep pushing up!
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    • ZEROHERO
      Just don’t be the last one holding the 💣
      2021-06-10
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    • ZEROHERO
      Just don’t be the last guy holding on to the 💣
      2021-06-10
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  • Growmywealth
    ·2021-06-10
    Gonna dump all GME gains to AMC
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  • HoldTheDoor
    ·2021-06-10
    Pre market not important 
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  • Sebas997
    ·2021-06-10
    wish is climbing too [Grin] 
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  • riphunter
    ·2021-06-10
    Citadel holding CLOV. Don't be fooled. They will dump on hodlers
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