Get started

Memestock

SNDL - Meme or TA Dream? I know SNDL is still living in Reddit/Meme territory, but there are also some very solid technical analysis (TA) indicators that could mean we're in for another push. Chart above has call outs for major points of consideration, but will recap here as well: Each push that SNDL has made, comes back to the .618 retracement line (which is a pretty sizable pull back). The most recent push has already made that pull back. We have touched the 50 day moving average and the long term support line . Each time in the past the 50 day moving average and support line have been touch there's a big push that follows The only caution I see here is the overbought position on the Stochastic RSI (1 day candles). We could see a drop in the next day or two, but I don't see that impacting the over all trend. It could be another test/tap on the support line before a big push. Lots to consider here, but it feels like we have some pretty strong bullish signs for SNDL in the coming weeks.
NASDAQ:SNDL
by worldlyTacos81375
10
$RKT meme stock short squeeze!$RKT stock has now skyrocketed 113.6% over the past three days, since the company reported better-than-expected fourth-quarter earnings and announced a special dividend of $1.11 a share. S3 Analytics said there has been a "large amount of short selling" into the stock's (RKT) recent rally, with short interest interest increasing to 47.9 million shares, or 45.8% of the public float. "RKT's stock price and short selling activity is reminiscent of another recent highflying 'meme' stock- appears to have garnered some bullish interest from day traders on Reddit’s infamous WallStreetBets. it is near the top of the list of U.S. companies in terms of size of short bet by hedge funds, according to FactSet. That makes it a classic target by meme-obsessed investors, who have been storming together this year into shares and call options of heavily shorted companies in order to squeeze out short sellers. It was unclear of the size of the retail interest in Rocket at this time. A number of popular posts on WallStreetBet chatroom featured Rocket on Tuesday. One says “I like RKT. $1.7M all-in, let’s gooo YOLO,” and it quickly drew more than 1,700 comments. We expect the shares to normalize and again trade on fundamentals, however the timing is uncertain.” wrote Wells Fargo analyst Donald Fandetti “Our beta-tested social media stuff right now picked up on yesterday some really just hugely bullish comments over on the Reddit board WallStreetBets again. Najarian cited a jump in Rocket options trading volume following increased mentions on Reddit. Meme-driven chatter on Rocket was not nearly as intense as seen on GameStop, according to AI firm Accrete. The surge in Rocket could be a sign that the retail trading mania seen in GameStop earlier this year is still a factor. When a stock with high short interest jumps sharply higher, it could force short sellers to cover their bearish positions in order to limit their losses. The short covering tends to fuel the stock’s rally further. www.cnbc.com
NYSE:RKT
by AlenCiken
Why $REI oil meme reddit stock skyrocketed?A Texas oil company that’s been the subject of social media speculation in recent weeks is seeing an explosion in trading of out-of-the-money call options, indicating retail traders are betting on another big jump in the shares. Ring Energy Inc. is an industry minnow, selling an average of almost 9,500 barrels of oil in the third quarter. It shares have doubled in less than two weeks. The frenzy is latest example of “meme” stocks attracting the interest of retail traders. The company has featured recently in numerous discussion threads on Reddit. Ring is also under pressure from its largest shareholder, energy investor Simon Kukes, to make changes. Ring didn’t immediately respond to a request for comment. finance.yahoo.com
AMEX:REI
by AlenCiken