ContextLogic, Cleveland-Cliffs, Clover Strike Gains Pre-Market As GameStop, AMC Drop Lower On SEC Probe Warning

Shares of so-called stonks, or stocks popular with retail investors, are seeing mixed trading activity in the early pre-market session on Thursday.

ContextLogic Inc. WISH has emerged as the most popular stock on WallStreetBets. Its shares are up 3.3% in early pre-market hours on Thursday as retail traders see the e-commerce platform company as the target of a potential short squeeze. The company’s shares closed 8.9% lower on Wednesday at $10.60.

Cleveland-Cliffs Inc. CLF shares are up about 0.6% in the pre-market hours after closing 14.6% higher on Wednesday at $23.22 on higher iron ore prices and as the steelmaker held a ribbon-cutting ceremony at a direct reduction plant in Toledo, Ohio on Wednesday.

Workhorse Group Inc. WKHS is down 2.7% in the pre-market hours after closing almost 8.5% higher on Wednesday at $16.90. The electric vehicle maker is seeing high interest from retail investors as it has a high percentage of shares outstanding held short.

AMC Entertainment Holdings Inc. AMC shares are down 6.6% in pre-market activity. The movie theatre chain’s shares closed almost 10.4% lower on Wednesday at $493.34 after GameStop Corp. GME disclosed that the U.S. Securities and Exchange Commission is investigating trading activity in the company’s securities as well as “the securities of other companies.”

Tilray Inc. TLRY shares are down 1.5% in the pre-market hours. The shares closed almost 6% higher on Wednesday at $21.43 after the marijuana company on Tuesday announced the launch of a new medical brand, Symbios, as well as a new line of topical treatments under its Aphria brand.

GameStop Corp. GME shares are down 7.8% in the pre-market hours after the company reported better-than-expected earnings for the first quarter but also revealed the SEC probe. The shares closed about 0.9% higher at $302.56 on Wednesday.

Clover Health Investments Corp. CLOV  shares are trading higher by 9.2% in the pre-market hours. The medicare insurance technology company’s shares closed 23.6% lower at $16.92. S3 Partners analyst Ihor Dusaniwsky said Tuesday he estimates Clover’s short percent of float at 43.5%, making it one of the most heavily shorted stocks in the market.

Clean Energy Fuels Corp. CLNE shares are down 1.9% in the pre-market activity. The renewable natural gas company’s shares surged 31.5% higher to close at $13.02 on Wednesday.

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