Reddit shares close near record after two-day rally driven by meme stocks
Publishing timestamp: 2024-05-15 10:19:32
Summary
Reddit's stock surged after retail traders kicked off a meme stock frenzy, inspired by "Roaring Kitty." GameStop and AMC shares doubled in two days, with other meme stocks also rising. Despite no fundamental reason for the rally, analysts believe increased user activity on Reddit could boost the company's advertising business.
Sentiment: MIXED
Tickers: GME, RDDT, BB, SPWR, KOSS, AMC,
Keywords: sunpower corp, stock markets, reddit inc, technology, breaking news: technology, meme stocks, blackberry, koss corp, amc entertainment holdings inc, business news, social media, gamestop corp, internet, enterprise,
Source: https://www.cnbc.com/2024/05/14/reddit-shares-close-near-record-after-two-day-meme-stock-rally.html