Meme trading volumes soar, Marin Software doubles

Auddia

28/06/2021 21:54

(Updates to close)
    ** Shares of so-called "meme stocks" that are popular on
social media seeing some of the highest trading volumes on U.S.
exchanges on Monday, with Marin Software  MRIN.O  leading the
charge with a 96.9% gain and ~266 million shares changing hands
    ** Shares of ContextLogic Inc  WISH.O , up 2.6% with 174 mln
trading volume while Sundial Growers Inc  SNDL.O  shares, up
0.9% just under $1, had 108.7 million trading volume 
    ** Some of these companies' shares have been hugely volatile
in recent sessions in moves characteristic of the
Reddit-inspired rally, with MRIN closing last week up 132% in a
record week for trading volume, while WISH rose 23% for that
week also with record volume
     ** Shares in AMC Entertainment  AMC.N , one of the highest
profile memes, were up 7.5% with almost 99 million shares
changing hands after it announced busiest weekend in its movie
theaters since pandemic  urn:newsml:reuters.com:*:nL3N2OA3KZ
     ** Another stock Alfi Inc  ALF.O , up 8.7% was also seeing
brisk trading with 38 million shares changing hands while
Workhorse  WKHS.O , up 8.7% traded more than 46 million shares
    ** Auddia Inc  AUUD.O , another small cap stock which has
been gaining ground sharply, closed up ~44% at $5.89 on Monday,
in tech co's biggest single-day gain since Feb. debut, its sixth
consecutive advance. AUUD also boasted record volume on Monday
with more than 36 mln shares changing hands
    ** A meme stock rally in January where individual investors
bid up shares of heavily shorted companies triggered a short
squeeze in some stocks such as GameStop Corp  GME.N , which
closed up 1.8% on Monday

 (Reporting by Shreyashi Sanyal in Bengaluru, Sinéad Carew in
New York)
 ((sinead.carew@thomsonreuters.com))