By Tyler Durden,
As the broader US index futures point lower, it looks like the “Wall Street Bets” army is back on the offensive, as some of the big-name “Reddit” stocks – as Bloomberg calls them – are back in rally mode.
Gamestop, is up a ‘healthy’ 80% this morning..
But it is Siebert Financial that really stands out, having surged as much as 650% on Friday morning…
The retail brokerage/finance company is now trading at its highest since 1999…
Other stocks that got caught up recently in a retail-trading frenzy include:
Cinema operator AMC Entertainment +49%
Apparel retailer Express +37%
Homeware retailer Bed Bath & Beyond +10%
Cannabis firm Sundial Growers +14%
Underwear manufacturer Naked Brand +40%
Airport spa operator which pivoted to Covid-19 testing XpresSpa +5.3%
Silver miner First Majestic Silver +13%
Fashion retailer Fossil Group +11%
Shipping firm Castor Maritime +17%
Guardion Health Sciences +9.6%
In other news, Robinhood was forced to go hat in hand to borrow more than $1 billion from a group of banks and VC firms (mostly RH’s existing investors).
Sources : https://www.zerohedge.com/markets/siebert-financial-650-wall-street-bets-short-squeeze-continues