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GigaCloud Technology
It fell on Monday, giving up early morning gains after retail traders changed their view on the stock.
The Hong Kong trading platform completed its initial public offering on the Nasdaq on Thursday, with the stock opening at $19.20, or 56.7% above its IPO price of $12.25. The next day, GigaCloud (stock ticker:
JCT
) caught the attention of retail traders, whose trading activity caused shares to close at $48.01 in their second session – a 206% increase from Thursday’s closing price.
Mentions of GigaCloud surged on online forums like Reddit and Stocktwits after the company debuted on the stock market. GigaCloud message volume rose 14% on Friday, according to Stocktwits, while investor sentiment was up 0.08%.
The New York Stock Exchange suspended the stock 16 times on Friday due to volatile trading activity, a feature of its other beloved stocks. Stock Traders Meme.
GigaCloud is up as much as 29% at the market open on Monday, but has since made a complete turnaround, with shares down 25% to $36.01. Other meme stocks were also struggling.
“Mimi’s shares, which have been hit hard during the market sell-off this year, have been making a comeback in recent weeks as the market has rebounded,” said David Trainer, CEO of New Constructs, a Nashville-based investment research firm. “Just as the mindless meme stock frenzy fades in January 2021, we think this latest meme stock rally will be short-lived.”
AMC Entertainment
(
AMC
) decreased by 36.9%. The company launched a special preferred stock dividend “APE”, which today fell by 4.6%. The company said AMC will issue approximately 517 million APE units — one for each share of outstanding common stock. In addition, fellow transfer theater series
Cineworld
He said he was Consider filing for bankruptcy in the United States.
Jim Stop
(
GME
) decreased 4.7%.
bed bath behind
(
BBBY
) 11.3% on Monday. The stock’s ratings were lowered to “CCC” on Monday in S&P Global Ratings, which said “macro conditions are worsening and the outlook for sales of household goods continues to deteriorate.”
Last Friday, activist investor Ryan Cohen He sold his entire share in Bed Bath & Beyond for $178 million, sending the stock down.
Write to Sabrina Escobar at [email protected]
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