Siebert Financial Up 650% As “Wall Street Bets” Short Squeeze Continues

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).

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