Investing

Meme Stock Movers for 9/14: Aterian, Camber Energy, Microvast, Vinco Ventures

Premarket trading on Tuesday was mostly muted as traders awaited the monthly report on the Consumer Price Index. CPI came in with an increase of 0.3%, compared to a consensus estimate of 0.4% and a prior month reading of 0.5%. Core CPI (minus food and energy) rose 0.1%, compared to an estimate of 0.3% and a prior month total of 0.3%. Futures jumped following the report.

Monday’s big mover among meme stocks was Aterian Inc. (NASDAQ: ATER), which traded more than 242 million shares and added 52% to its share price to close at $17.98. The company designs and manufactures a variety of consumer products that it then sells to online customers to sell on their own websites, some of which use Aterian’s e-commerce platform. In February, the stock traded at nearly $49, so even with Monday’s gain the shares trade about 65% below their February high. According to Fintel, Aterian is the second-best candidate for a short squeeze this week. Shares traded down about 7% in Tuesday’s premarket, likely on some profit-taking.

Camber Energy Inc. (NYSEAMERICAN: CEI) dropped about 8.5% on Monday and traded down about 5% in Tuesday’s premarket session. The company was never a good candidate for a short squeeze because so few shares were sold short. While the stock could have traded higher on a proposed acquisition, the acquisition was not large enough to warrant a share price increase of more than 300% since August 20. Maybe we are missing something, but this looks like animal spirits.

Lithium-ion battery maker Microvast Holdings Inc. (NASDAQ: MVST) dropped more than 14% on Monday and traded down less than 1% early Tuesday. Since completing a SPAC merger in late July, the share price is up about 14%, including a spike of around 57% in early August. The stock closed at $9.11 on the day the merger closed and at $9.98 on Monday.

Vinco Ventures Inc. (NASDAQ: BBIG) dropped more than 7% on Monday and traded down less than 1% in Tuesday’s premarket session at $9.58. The company had no news. Since August 20, the stock is up about 300%, and daily trading volume remains high, with more than 51 million shares traded Monday. About 26% of the company’s total float is sold short, nearly a third higher than the short interest in mid-August.