Meme Stocks Go Their Own Way For A Day  

© Reuters

By Dhirendra Tripathi – Meme stocks showed no particular trend so far in Friday’s session with most relatively subdued in signs of a fatigue on the last day of the week.

Clover Health (NASDAQ:) rose 7%, modest by the standards of meme stocks. Shares of the Medicare insurance start-up had doubled during Tuesday’s session before closing the day with 86% gains.

AMC Entertainment (NYSE:) rose 6%, GameStop (NYSE:) 2% and BlackBerry (NYSE:) 1%.

In the negative were Contextlogic (NASDAQ:) which was down 6.5%, World Wrestling (NYSE:) 5%, Clean Energy Fuels (NASDAQ:) 3% and Wendy’s (NASDAQ:) 2%.

The Reddit mania for these stocks is now more than six-months old but shows no signs of abating.

Not every meme stock has a fundamental story to tell barring the common thread of being heavily shorted.

They have also continued to stay at elevated levels, though many have come off significantly from their peaks.

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