The madness in meme stocks on Monday can be traced back to a social media post from Keith Gill, best known as "Roaring Kitty" on YouTube and X or "DeepF***ingValue" on Reddit. Several names with high short interest are ripping higher in the wake of the post. Yes, a simple meme has kicked off a buying frenzy in heavily shorted names.
Shares of STAAR Surgical Company (NASDAQ: STAA) rose sharply during Thursday’s session after the company issued strong preliminary first-quarter net sales guidance.
STAAR Surgical shares jumped 13.3% to $44.30 on Thursday.
Shares of Flora Growth Corp. (NASDAQ: FLGC) fell sharply in today’s pre-market trading after the company reported the launch of proposed underwritten public offering of common shares.
U.S. stocks traded higher toward the end of trading, with the S&P 500 gaining around 0.3% on Wednesday.
The Dow traded up 0.08% to 39,200.08 while the NASDAQ rose 0.46% to 16,315.68. The S&P 500 also rose, gaining, 0.31% to 5,221.70.
Shares of Ulta Beauty, Inc. (NASDAQ: ULTA) fell sharply during Wednesday’s session amid the company's presentation at the J.P. Morgan Retail Roundup investor conference where the company reportedly issued a weak outlook.
Ulta Beauty shares dipped 13.7% to $448.08 on Wednesday.
U.S. stocks traded higher midway through trading, with the Nasdaq Composite gaining over 0.5% on Wednesday.
The Dow traded up 0.18% to 39,241.00 while the NASDAQ rose 0.55% to 16,329.45. The S&P 500 also rose, gaining, 0.39% to 5,226.17.