This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/526059-buzzy-reddit-stocks-trading-mania/
The article has changed 3 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
RT’s Boom Bust looks at buzzy Reddit stocks as WallStreetBets retail trading mania continues | RT’s Boom Bust looks at buzzy Reddit stocks as WallStreetBets retail trading mania continues |
(3 months later) | |
Retail traders from Reddit have their eyes set on two new darlings – fast-food chain Wendy’s and Medicare insurance start-up Clover Health, both of which have seen big gains in recent days. | Retail traders from Reddit have their eyes set on two new darlings – fast-food chain Wendy’s and Medicare insurance start-up Clover Health, both of which have seen big gains in recent days. |
Boom Bust talks to Michele Schneider of MarketGauge.com to find out what’s behind the new trading frenzy. With Wendy’s, it wasn’t necessarily a short squeeze, she says. | Boom Bust talks to Michele Schneider of MarketGauge.com to find out what’s behind the new trading frenzy. With Wendy’s, it wasn’t necessarily a short squeeze, she says. |
“It has really got the attention of the Reddit traders because of the term ‘chicken tendies’ which means profit. It was viral on Twitter in terms of the actual stock. And they drove the stock to new all-time highs… But really, it was more the attraction along with the meme stocks,” Schneider explains. | “It has really got the attention of the Reddit traders because of the term ‘chicken tendies’ which means profit. It was viral on Twitter in terms of the actual stock. And they drove the stock to new all-time highs… But really, it was more the attraction along with the meme stocks,” Schneider explains. |
She points out that with Clover Health, “it was a true short squeeze situation and that stock also went to new all-time highs.” | She points out that with Clover Health, “it was a true short squeeze situation and that stock also went to new all-time highs.” |
“So, it’s an interesting situation what’s going on here, how they pick these stocks, and of course everybody is trying to guess what will be the next new darlings,” she says. | “So, it’s an interesting situation what’s going on here, how they pick these stocks, and of course everybody is trying to guess what will be the next new darlings,” she says. |
For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
Dear readers and commenters, | |
We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
Sorry for the inconvenience, and looking forward to your future comments, | |
RT Team. |