Clean Energy Fuels, ContextLogic soar as retail traders pick new meme stocks

1 week ago 15

Clean Energy

Source: Clean Energy

A caller time means caller targets for the retail trading crowd.

Shares of Clean Energy Fuels surged 28% during premarket trading connected Wednesday, coinciding with mentions of the institution jumping connected net chat boards, portion ContextLogic precocious 31%.

Clean Energy Fuels is the second-most discussed sanction among retail traders implicit the past fewer hours, 2nd lone to Clover Health, according to information from HypeEquity.

ContextLogic, meanwhile, is the astir mentioned banal connected Reddit's WallStreetBets forum implicit the past 24 hours down Clover Health, according to QuiverQuant, which tracks enactment connected the site. ContextLogic is known arsenic, an e-commerce platform.

Clean Energy Fuels is the 4th astir mentioned stock, QuiverQuant found.

The abrupt involvement successful the renewable earthy state institution and e-commerce sanction follows akin retail trader enactment successful stocks including AMC, GameStop, Wendy's and BlackBerry. At 1 constituent connected Tuesday, shares of Clover more than doubled. Clover shares were up again connected Wednesday.

Newport Beach, California-based Clean Energy Fuels has a comparatively tiny interval astatine 66%, meaning the banal tin beryllium much easy manipulated. And astir 8% of its interval is sold short, according to information from FactSet.

ContextLogic has an adjacent smaller information of its shares disposable connected the unfastened market, with interval conscionable 54.5% of the shares outstanding. Roughly 11% of the company's shares are sold short.

CNBC's Jim Cramer weighed successful connected the abrupt ascent successful Clean Energy Fuels, saying investors should "be cautious … the company's had nary existent gross maturation and astir nary profitability successful a decade."

The trading enactment successful Clean Energy Fuels has been gathering implicit the past fewer days, and connected Tuesday much than 44 cardinal shares changed hands. This compares to a 30-day mean measurement of conscionable nether 9 cardinal shares traded daily.

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