Stonks Find Their Groove Back In Early Pre-Market After Thursday's Slump; AMC, UWM, ContextLogic Surge

Shares of so-called stonks, or stocks popular with retail investors, are mostly seeing gains in the early pre-market session on Friday after the blistering rally fizzled a bit on Thursday.

ContextLogic Inc. WISH shares are up 2.6% in the pre-market hours after closing 0.9% higher on Thursday at $10.69. The e-commerce company continues to be one of the most-discussed stocks on Reddit’s r/WallStreetBets forum.

Cleveland-Cliffs Inc. CLF shares are up almost 2% in the pre-market hours. Shares of the steelmaker, also seen as the target of a potential short squeeze, closed 1.1% lower on Thursday at $22.96.

GameStop Corp. GME is up 5.3% in the pre-market hours. The videogame retailer’s shares closed 27.2% lower on Thursday at $220.39 after it disclosed a probe by the U.S. Securities and Exchange Commission into the retail trading frenzy.

AMC Entertainment Holdings Inc. AMC shares are up 6.6% in pre-market activity. The movie theatre chain’s shares closed 13.2% lower on Thursday at $42.81, pulling back from its recent rally following news of the SEC probe.

Workhorse Group Inc. WKHS is up almost 2.7% in the pre-market hours after closing 10.9% lower on Thursday at $15.06. The electric vehicle maker is seeing high interest from retail investors as it has a high percentage of shares outstanding held short.

Senseonics Holdings Inc. SENS shares are up 5.5% in the pre-market activity after closing 17.9% higher on Thursday at $3.62. The Maryland-based medical device startup has been targeted by Reddit traders and institutions for the large amount of short interest on its stock.

UWM Holdings Corporation UWMC shares are up 7.6% in the pre-market hours with the stock being mentioned by retailer investors on social media as a short-squeeze candidate. The mortgage lender’s shares closed 3% lower on Thursday at $9.66.

Orphazyme A/S ORPH shares are down 44.5% in the pre-market hours. The Denmark-based biopharmaceutical company’s shares skyrocketed 302.3% on Thursday to close at $21.00 — despite it making no announcement that could explain the volatility in its shares.

See Also: Why Did Orphazyme (ORPH) Shares Skyrocket As Much As 1387% Today?

Tilray Inc. TLRY shares are down 0.5% in the pre-market hours after closing 6.4% lower on Thursday at $20.05. The marijuana company had on Tuesday announced the launch of a new medical brand, Symbios, as well as a new line of topical treatments under its Aphria brand.

SPDR S&P 500 ETF Trust SPY shares are edging down less than 0.1% in the pre-market activity. Shares of the exchange traded fund closed 0.5% higher on Thursday at $423.61, after hitting a 52-week high of $424.62 earlier, as market participants appeared to shrug off worries about inflation.

See Also: Experts React To 5% CPI Inflation, Highest Since 2008

Photo by Samantha Celera on Flickr

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