-BUZZ-Meme favorites dominate the top of volume charts

Marin Software

28/06/2021 15:38

(Updates prices, volume)
    ** 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 45.7% gain and ~70 million shares already changing
hands
    ** Shares of ContextLogic Inc  WISH.O , up 6.1% with 53 mln
trading volume while Sundial Growers Inc  SNDL.O  shares, up
3.1% at $1, had already seen 38 million trades 
    ** Another stock Alfi Inc  ALF.O , up 8.4% was also in the
top 10 most traded companies with 19.7 million shares changing
hands while Workhorse  WKHS.O , up 9.5% traded 18 million shares
    ** Some of these companies were also hugely volatile in the
previous week's sessions in moves characteristic of the
Reddit-inspired rally, with MRIN closing the week up 132% in a
record week for trading volume, while WISH rose 23% for the week
also with record volume
     ** Shares in AMC Entertainment  AMC.N , one of the highest
profile memes, were up 6.3% with 29.7 million shares changing
hands after it announced busiest weekend in its movie theaters
since pandemic  urn:newsml:reuters.com:*:nL3N2OA3KZ
    ** 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 was
last up 3.8%

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