Blaze Capital – AMC stock is rallying with meme stocks this morning. AMC is up over 5% this morning. Wall Street Bets reddit meme stock mania is spreading to other names. GME, CLOV, SPCE stocks are all spiking higher in early morning trading. Fast food giant Wendy’s is also getting bid up from traders, up over 15% this morning.
Many of these surges are being linked to high short interest. Reddit traders are pushing each other to participate in the squeezes potentially fueling the rally higher. Clover, CLOV stock was pushed lower earlier in the year from a short reported released by Hindenburg Research. The SEC has come out saying it’s keeping a close eye on the trading frenzy and will try to determine if there is any misconduct going on!