Stocks such as GameStop Corp. GME, AMC Entertainment Holdings Inc AMC and Rocket Companies Inc RKT sparked a lot of interest — and some controversy — this year.
These companies' share prices rose more than 250% in one day, ultimately giving many retail investors life-changing profits.
What Happened: It started in January when several Reddit users on the subreddit known as WallStreetBets found out there was a 140% short interest in GameStop stock.
In response to the massive short interest held by large hedge funds and institutions, WallStreetBets members pushed GameStop's share price significantly in the hopes of a short squeeze occurring.
WallStreetBets' plan was successful as GameStop's stock rose from $17.25 to more than $500, eventually leaving several large hedge funds with losses of over $2 billion.
WallStreetBets proceeded to do this with more stocks with large short interests and several cryptocurrencies such as Dogecoin.
These stocks pushed around on social media platforms to pump up the share price are called meme stocks and everyone is trying to find out which stock is next.
A new post on WallStreetBets went viral due to its unique approach to investing. The post gave an in-depth analysis of the connection between UFO disclosure and U.S. defense stocks.
If you weren't already aware, the U.S. government plans to release a comprehensive report on UFOs by the end of June. Many speculate the report will confirm aliens are indeed real while others believe the report will contain little to no information about recent UFO encounters by military personnel.
What Does Reddit Say? One of the main claims on the Reddit post was Lockheed Martin Corporation LMT stock is heavily correlated to the release of UFO disclosure. Whether you think the UFOs encountered by U.S. Navy pilots were developed by aliens, foreign rivals or the U.S. military, Reddit members believe Lockheed Martin will benefit from an inevitable increase in military spending.
What Does This Mean For Lockheed Martin? This Reddit post gained a tremendous amount of traction on the platform and was even pinned on the front page of WallStreetBets.
In just a few hours, the post received thousands of upvotes and Reddit awards. Not only that, people even commented on the post claiming that "$LMT makes absolute sense for a yolo play" and that they "just went all-in" on Lockheed Martin stock.
What's Next? As a result, Lockheed Martin's stock has seen an unusual increase in volume and share price over the past few days. Redditors are buying the stock not only as an investment, but to raise awareness and hopefully persuade the U.S. government to release more information regarding UFOs.
Benzinga's Take: Could Lockheed Martin be the next stock to pop 100%? With a community as strong as WallStreetBets, anything is possible.
(Photo: Still from Lockheed Martin and GM video still about autonomous moon rover.)
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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