The broad markets traded up by about 0.3% in the noon hour Monday. Crude oil pulled back from a multiyear high of more than $82 a barrel. The bond market is closed. Now that the September earnings season has begun, investors may get more information about where the market is headed in the final quarter of 2021.
Following the market trend, meme stocks traded higher Monday, with one notable exception. Camber Energy Inc. (NYSEAMERICAN: CEI) gave back the gain it saw in the premarket session. At its low point in the morning, Camber stock was down 16%. There was no specific news. As we noted in our morning report, Camber remains one of the stocks most susceptible to a short squeeze this week. So far in Monday’s regular trading session, Camber stock had snagged back about half its loss for the day.
The meme stock posting the biggest gain Monday was SoFi Technologies Inc. (NASDAQ: SOFI). While the stock is among the day’s most discussed on Reddit, there was no specific news. About 40% of the comments were neutral, and the other 60% are split about evenly between positive and negative sentiment. Much of the chatter was related to SoFi’s confirmation in late September that it expects to receive a bank charter.
Aterian Inc. (NASDAQ: ATER) traded up by double digits as well, and, like SoFi, had no specific news. The shares have dropped way down Fintel’s list of the stocks most likely to experience a short squeeze this week. Short interest in the e-commerce platform vendor remains high at nearly 41%. Shares posted a 52-week high in mid-February and have added about 80% of their value since then, including occasional spikes like the one a month ago the raised the price to around $19.
GameStop Corp. (NYSE: GME) received a lot of attention on Reddit Monday, but much of it was negative. That’s a bit surprising because the share price was up solidly on no particular news. Recent leaks purportedly revealing how much some professional gamers can earn may have some analysts and investors thinking that a lot more games and gaming hardware will be sold to wannabe millionaires. Could happen.
Shares of Camber Energy traded down about 9.4% to $1.54 as the noon hour ended Monday. The stock’s 52-week range is $0.33 to $4.85. The average daily trading volume is 170.8 million shares, and about 190 million had already changed hands on the day. Last Friday, Camber stock traded 964 million shares.
SoFi shares traded up about 13% to $18.32, in a 52-week range of $11.80 to $28.26. The average daily trading volume of nearly 21 already had been doubled Monday, as nearly 44 million shares were traded.
Aterian was up about 10.5%, at $8.57 in a 52-week range of $3.04 to $48.99. The trading volume of 12.3 million was just over half the daily average of 23.7 million shares.
GameStop shares traded up about 6.6%, at $184.01 in a 52-week range of $10.36 to $483.00. The average daily trading volume is around 3 million, and about 2.1 million had traded.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.