Lucid, Luckin Coffee, EHang draw interest from small-time investors

Vinco Ventures

20/01/2022 15:33

** Shares of EV maker Lucid Group  LCID.O , coffee chain
Luckin Coffee  LKNCY.PK  and Chinese drone maker EHang  EH.O 
were among most trending on stocktwits.com, signaling interest
from retail traders
    ** LKNCY slipped 4% after registering its best day in nearly
7 months on Weds after a report co was mulling a Nasdaq
relisting  urn:newsml:reuters.com:*:nL1N2TZ1Z5
    ** EH soared 6% on preorders from a Japanese company for its
autonomous drone, while LCID added ~5% without any immediate
news catalyst  urn:newsml:reuters.com:*:nL4N2U03JF
    ** Among other stocks trending on Reddit's r/wallstreetbets
and stocktwits.com was online lender SoFi Technologies  SOFI.O 
soared 12% for the second day after receiving approval to become
a national bank  urn:newsml:reuters.com:*:nL4N2TZ2K2
    ** Another retail favorite Vinco Ventures  BBIG.O  dropped
13%, giving back some gains from its 90% rise MTD; Trump-linked
Digital World Acquisition Corp  DWAC.O  edged 1.3%, taking its
January gains to 50%
    ** On Wednesday, Vanda Research said in a note that most
speculative retail investors are concentrating their bets on
meme stocks AMC  AMC.N  and GameStop  GME.N  and popular names
like Tesla  TSLA.O 
    ** However, the overall number of mentions in social media
is substantially lower than in early 2021
    ** Because most institutional investors are not allowed to
invest in SPACS, retail investors have been able to drive
rallies in stocks like DWAC and BBIG
    ** AMC, GME rose 4% and 6%, respectively

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))