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GameStop Corp. (GME) - free report >>
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GameStop Corp. (GME) - free report >>
Reddit Traders Have a New Target: Clover Health (CLOV)
Clover Health (CLOV - Free Report) , a Medicare-backed insurance start-up, had a wild day of trading on Tuesday. CLOV skyrocketed over 100% at one point this morning, and closed up about 86% to $22.15 per share. According to FactSet data, more than 720 million shares changed hands by the closing bell.
A short squeeze looks to be in play for CLOV, just like we saw with other meme stocks AMC (AMC - Free Report) and GameStop (GME - Free Report) . The stock is one of the most shorted stocks across U.S. exchanges, and as of today, 43.5% of its float shares are sold short.
CLOV went public via venture capitalist Chamath Palihapitiya’s SPAC in October 2020, and is currently a Zacks Rank #4 (Sell).
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>