“Meme stocks” are known to stock market watchers. The term meme stock refers to stocks that rise in price due to widespread propagation on the Internet.
The possibility of an unexpected change or catalyst could trigger the buying of shorted stocks. Getting squeezed out by short sellers (getting their positions covered) causes the stock price to surge even more dramatically and quickly.
In recent years, meme stocks have become increasingly popular. In January 2021, shares of GameStop (GME) shot up in value. The traders at WallStreetBets purchased GME stock after hedge funds shorted the company.
It is typically social media and online forums that drive meme stock prices, not production increases. Due to the rapid increase in the value of these stocks, they become overvalued over time.
The following are a few recent meme stocks that have gained a lot of traction.
In the most recent purchasing and selling session, Tilray Inc. (TLRY)’s share price decreased by -4.37 percent to ratify at $12.68. A sum of 18.06 million shares traded at the recent session and its average exchanging volume remained at 24.69M shares. The 52-week price high and low points are important variables to concentrate on when assessing the current and prospective worth of stock. Tilray Inc. (TLRY) shares are taking a pay cut of -81.07% from the high point of 52 weeks and flying high of 187.53% from the low figure of 52 weeks.
According to WSJ, Tilray Inc. (NASDAQ: TLRY) obtained an estimated Hold proposal from the 19 brokerage firms currently keeping a deep eye on the stock performance as compares to its rivals. 1 equity research analyst rated the shares with a selling strategy, 13 gave a hold approach, 4 gave a purchase tip, 1 gave the firm a overweight advice and 0 put the stock under the underweight category. The average price goal of one year between several banks and credit unions that last year discussed the stock is $18.16.
Virgin Galactic Holdings Inc. (NYSE: SPCE) shares plummeted during Thursday’s trading session, losing -$1.0 to see the stock exchange hands at $24.25 per unit. At the moment, the company has a debt-to-equity ratio of 0.00. Following the trades, the stock’s 52-week low price has moved to $14.27 with the SPCE share now at $62.80 for its 52-weeks high.
Kreeger Craig S, Director, of Virgin Galactic Holdings Inc. (SPCE), sold 10,000 shares of Virgin Galactic Holdings Inc. stock in an exchange that took place on Aug 17. The shares were sold at an average price of 25.15 each, amounting to a total Sale worth $251,500. As of the close of the Sale, Director now directly holds 33,346 shares of the organization’s stock, which is now worth about $808640.5. The deal was disclosed in a Securities & Exchange Commission legal filing, which can be publicly viewed on the SEC website.
Nokia Corporation (NYSE: NOK) does about 33.18M shares in volume on a normal day but saw 24.11 million shares change hands in Thursday trading. The company now has a market cap of $32.91 billion. Its current market price is $5.89, marking a decrease of -1.01% compared to the previous close of $5.95. The 52 week high reached by this stock is $9.79 whilst the lowest price level in 52 weeks is $3.21. The script in recent trading has seen the stock touched a high of $5.91 and a low of $5.78.
Cowen rated the Nokia Corporation (NYSE: NOK) stock “an Outperform”, with the firm’s price target at $5-$8. Cowen’s estimates were contained in a research note released on Friday, July 30, 2021. Several other experts on Wall Street have posted such reports regarding the NOK shares. According to JP Morgan, the stock is “an Overweight,”$7.80. JP Morgan published their figures in a research note released to investors on Wednesday, July 14, 2021. Other experts at Goldman have their rating of the stock is “a Buy”. These scores were published in a research note the firm released on Friday, June 25, 2021.