Torchlight shines in 'meme stock' rally; AMC, GameStop subdued

Meta Materials

21/06/2021 10:07

** Torchlight Energy  TRCH.O  shares up 35.9% in early
deals; top traded stock premarket with ~3m shares changing hands
by 4:30 a.m. ET
    ** TRCH stock more than doubled last week after company
announced special dividend, gaining favor with small-time
investors on online discussion forums
    ** Company features on popular list of "top growing stocks
of the week" on Reddit (https://bit.ly/35D7KAn)
    ** Long-term meme stocks: Cinema operator AMC Entertainment
Holdings Inc  AMC.N  and video game retailer GameStop Corp
 GME.N  up just 3.3% and 2.2%, respectively
    ** Rally in AMC, GME has slowed since last week after
another bout of frenzied trading in May
    ** Shares in other Reddit darlings Clover Health Investments
Corp  CLOV.O , Koss Corp  KOSS.O , Corsair Gaming Inc  CRSR.O 
rise 1.7%-3.0%

 (Reporting by Sagarika Jaisinghani in Bengaluru)
 ((sagarika.jaisinghani@thomsonreuters.com))