Stocks Pop in After-Hours as Traders Eye Oil and Inflation
Gerelyn Terzo, 07 June 2021
Stocks finished mixed on Monday with the S&P 500 failing to make a run for a new record and closing slightly in the red. The index is already up about 12% year-to-date, but investors are feeling a bit skittish about inflation.
The Nasdaq and the Dow Jones Industrial Average both finished the day up fractionally, while oil is back on investors’ radar to reclaim the USD 100 level in the medium-term. Meme stocks continue to rule the roost. Let’s take a look at some of today’s market action.
Movers & Shakers
Movie chain AMC Entertainment tops today’s most actively trading stock, with 344.5 million shares changing hands. Most of that was buying activity, with the stock advancing nearly 15% to USD 55. Retail investors were calling hedge funds’ bluff for naked short selling activity in meme stocks.
The second most actively traded stock today was fellow internet meme name BlackBerry. With trading volume of 193 million, trading in this nostalgic stock outpaced activity in fellow tech names Apple, Nokia and AMD.
Clover Health made the most active list with 112 million shares exchanged today. Clover is also one of the most heavily shorted names and the meme-stock crowd drove the stock higher by an eye-popping 32% today.
