Meme stocks

Reddit shares busted out of the gate Thursday, showing an immediate gain of more than 60% as the long-awaited initial public offering finally turned the social media site into a publicly traded company.Shares opened at $47 each—and quickly jumped to $55. The question is: Can the company hold (and build upon) those gains?Reddit has warned investors that there are a number of factors that could impact its stock. It’s not a profitable company and user bases are fickle things that could disappear without a lot of warning. But…

In early 2021, stocks began behaving strangely. Retail investors, coordinating on internet platforms, decided to band together and coordinate their stock trades—chiefly, they plotted on Reddit.On the subreddit WallStreetBets, as well as on its sister channel on the messaging app Discord, investors organized a historic short squeeze of GameStop in early 2021, an effort that bounced the video game retailer’s stock price up 1,700 percent in a matter of weeks and eventually caused the closure of a once-successful hedge fund…

Scott Olson | Getty ImagesCheck out the companies making the biggest moves midday:Target — Shares of the retailer slid more than 2% after its earnings missed Wall Street expectations by a wide margin. The company said its quarterly profit fell almost 90% from a year ago. However, Target reiterated its full-year forecast and said it is now positioned for a rebound.Bed Bath & Beyond — Shares of the meme stock jumped about 22% on Wednesday, continuing a torrid August rally for the challenged retailer. The stock has seen…

Movie theaters across the U.S. and worldwide were dealt a massive blow over the past two years.The domestic box-office numbers plummeted from 2019's box office of $11.15 billion to $3.8 billion in 2021. That's mainly due to the Covid-19 pandemic, which kept people in their homes.Film studios scrambled to reshuffle movie release dates and secure deals for other distribution avenues, and movies intended for the big screen ended up on streaming sites.As the pandemic escalated, film studios tried solidifying their streaming…