Reddit Went Down, Meme Stocks Are Flying

By Timothy Sykes

Last updated on February 24, 2021
Reddit Went Down, Meme Stocks Are Flying Thumbnail

One Wednesday afternoon, Reddit’s entire website went down. It came back up less than one hour after the market closed.

At the same time, many of the “meme stocks” that were part of some major volatility last month are flying in after-hours trading.

The Reddit group WallStreetBets is widely believed to have organized a massive short squeeze on many stocks—including GME—last month.

The activity made one trader famous and caught the eyes of lawmakers in Washington, D.C.

The surge started about an hour before the markets closed.

GameStop Corp. (NYSE: GME) led the way, closing up 104% and continuing more than 120% more after the market closed. At writing, the stock is trading near $200 per share.

Other notable stocks include:

Koss Corporation (NASDAQ: KOSS), which rose 55% during trading hours, is up 20% after hours.

Express, Inc. (NYSE: EXPR) finished up 40% and rose at least another 23% after hours.

Naked Brand Group Limited (NASDAQ: NAKD) posted a 31% gain for the day.

AMC Entertainment Holdings, Inc. (NYSE: AMC) closed up 18% and is up more than 22% more after hours.

BlackBerry Limited (NYSE: BB) was up about 9% on the day and another 9% after hours.

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Image: FKVT/Shutterstock.com

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Comments (1)
Author imageTimothy Sykes
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