Investing
Meme Stock Movers for 9/7: AMC, Camber Energy, Naked Brand, Vinco Ventures
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Last week might have been lacking in thrills, but equities did okay nevertheless. The Nasdaq Composite closed the week at a new record, the S&P 500 set a new record last week and the Dow Jones industrial average regained much of the ground it lost in mid-August. The Nasdaq was slightly negative in Tuesday’s premarket, while the Dow and the S&P 500 were slightly positive.
AMC Entertainment Holdings Inc. (NYSE: AMC) got a boost Tuesday morning following the dazzling weekend debut of Disney’s “Shang-Chi and the Legend of the Ten Rings.” The film’s three-day opening weekend generated $71.4 million in ticket sales, and the four-day holiday total was around $91 million. The better news is that there are no major releases due for the next couple of weeks, giving the film a better chance to pile up even more ticket sales. AMC stock traded up 2.5% in Tuesday’s premarket at $45.12 on relatively light volume.
In mid-February, shares of Camber Energy Inc. (NYSEAMERICAN: CEI) posted a new 52-week high of $3.10. On August 20, the shares posted a new 52-week low of $0.33. Since then, the stock has added more than 150% to close last Friday at $0.83.
More than 274 million shares changed hands on Friday, almost exactly 10 times the company’s average daily volume of around 27.7 million and more than 10 times Camber’s total float of 25 million shares. Some 9.4 million shares traded in Tuesday’s premarket, and the stock added another 10% to trade at $0.91.
This may appear to be just another penny stock, but some Reddit WallStreetBets investors already have high hopes: “CEI currently trading at $.83 best carbon play on the market. Get in while it’s still cheap. Elon Musk loves clean energy. –u/Chromero227.”
Naked Brand Group Ltd. (NASDAQ: NAKD) dropped about 7.5% last Friday after posting a 33% gain in August. The Australia-based designer and distributor of men’s and women’s intimate apparel and swimwear saw its shares spike at $3.40 in late January before dipping to just $0.47 in mid-April. More than 43 million shares were traded Friday, right on the stock’s daily average. In Tuesday’s premarket, trading was fairly light but the stock has added more than 3% to around $0.64.
And how’s this for enthusiasm among the WallStreetBets crowd:
$nakd she is in the air!!!! pic.twitter.com/UVyMAob49Y
— Emily Hatchett (@EmilyHatchett5) September 6, 2021
Vinco Ventures Inc. (NASDAQ: BBIG) has given back a bit of its share price gain since August 20, but it had added more than 230% in those few weeks. Last Friday’s trading volume of nearly 124 million was almost four times the daily average. The stock closed down by about 1.1% on Friday and was down by another 1.3% in Tuesday’s premarket.
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