Why GameStop Dropped, but 2 New Meme Stocks Popped Friday
The Reddit crowd doesn't seem to have given up on GameStop (NYSE: GME) yet, but it seems to be paying more attention to other names it thinks it can drive into a short squeeze. In Friday trading, GameStop dipped, but electric vehicle start-up Canoo (NASDAQ: GOEV) and independent oil and natural gas company Camber Energy (NYSEMKT: CEI) are soaring, with chatter on the latter two names picking up on Reddit. As of 2:35 p.m. EDT, these stocks had moved as follows:
Heavily shorted stocks have continued to be a target of the retail trading community on social media since GameStop shares rocketed higher earlier this year. It seems Canoo and Camber Energy are two new names that are getting similar attention. As of the end of August, Canoo had more than 31% percent of its public float sold short. Camber Energy had 23.5% of its float sold short as of Sept. 15, according to data from MarketWatch.
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Source Fool.com
