Meme stocks are back after popular Reddit contributor Keith Gill, also known as “Roaring Kitty,” returns to social media. Stocks like GameStop (GME) and AMC Entertainment (AMC) saw trading rise, but as of Friday afternoon, they are showing signs of fading. Other companies, including penny stocks like Faraday Future Intelligent Electric (FFIE) and Greenwave Technology Solutions (GWAV), got into the meme craze, seeing triple-digit percentage gains for the week.
Yahoo Finance Reporter Ines Ferret He joins Market Domination to analyze the moves in meme stocks.
For more expert insights and the latest market action, click here to watch this full episode of Market Domination.
This post was written by Nicholas Jacobino
Video version
Good.
finally.
Let’s take a look at how Gamestop a MC shares fell today after the madness returned this week.
But they weren’t the only stocks caught up in the financial frenzy Fry’s here to take a deeper look at some of the smaller names that saw some big moves this week.
Yes it is Josh.
Everyone has heard of Gamestop and AMC.
But have they heard of Faraday?
Smart electric future?
Well, I didn’t either until we saw what this stock was doing.
This is a stock mini cab.
It is a company worth about $20 million.
Take a look there.
You’re looking at it down 29% but it’s up over 100, 20% today over the last week.
At one point, it was up more than 7,000% over the past week.
On Monday, the stock was trading at six cents.
This was trading earlier today at over $3 per share.
Now you see it at over $1 a share.
It’s unbelievable what happened with some of these stocks.
By the way, Faraday was the third most mentioned bar in the Wall Street Bets subreddit.
It was behind NVIDIA, behind Spy for the Spider, the ETF S, and the P 500 ETF.
There’s another stock that’s been on a craze this week as well, and it’s called Crown Electro Kinetic.
During the week, this stock rose more than 200%.
It’s a fiber optic company and a smart glass covering company.
And also green wave technology.
This is a Virginia-based metal recycling company, Sun Power.
This week is also the weekend after a few crazy days and a little cloud hologram.
This is another solar play that reached over 6% at one point.
Over the course of the week, it rose by about 22%.
The theme that you see among a lot of these small companies is that they are very small companies, and short interest tends to be really high.
For Faraday, short interest in the future was more than 92% of the float, so any move is clearly compounded.
youths
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