ATA Creativity Global (NASDAQ:AACG) stock closed over 951% today.
What Happened: ATA shares were buoyed — thanks to discussions on Reddit investor forums WallStreetBets, Stocktwits, and Twitter Inc’s (NYSE:TWTR) platform, related to pumping the stock.
AACG from r/wallstreetbets
ATA Creativity stock up sharply — more than 600% — on heavy trading volumes! $AACG #education pic.twitter.com/0h8RepZSiU
— AlphaBronze (@Alpha_Bronze) February 4, 2021
Shares in the Chinese education firm shot up with a volume of over 305.69 million on Thursday. The average volume is 51,862.
Why It Matters: ATA Creativity released its third-quarter results in November with earnings per share of RMB 0.28 ($0.043) and revenue of RMB 42.22 million ($6.52 million), a gain of 3.9 YoY.
On Wednesday, Sundial Growers Inc (NASDAQ:SNDL) stock shot up after it was targeted by retail investors.
Heavily shorted stocks such as GameStop Corp (NYSE:GME) and AMC Entertainment Holdings Inc (NYSE:AMC) skyrocketed as r/WallStreetBets pursued a short squeeze, before tanking in the previous few sessions.
ATA Creativity is not on the list of most talked about stocks on r/WallStreetBets, as compiled by Swaggystocks.
GameStop, AMC, Blackberry Ltd (NYSE:BB), Tesla Inc (NASDAQ:TSLA), and Nokia Oyj (NYSE:NOK) are the most discussed stocks on the Reddit forum.
Price Action: ATA Creativity shares closed 951.47% at $14.30 on Thursday and fell 20.44% to $10.09 in the after-hours session.