$ContextLogic(WISH.US)$ has surged ahead as the most-discussed stock on Reddit’s r/WallStreetBets forum, while $Cleveland-Cliffs Inc(CLF.US)$ emerged as the second most-mentioned stock. Earlier-WSB-favorites like $AMC Entertainment Holdings Inc(AMC.US)$ and $GameStop Corp(GME.US)$ continued to lag.
What Happened
$ContextLogic(WISH.US)$, an e-commerce platform company, attracted 4,117 mentions on the investor forum during the last 24 hours at press time, data from Quiver Quantitative showed.
Steelmaker $Cleveland-Cliffs Inc(CLF.US)$ stood a distant second with 1,981 mentions, while electric vehicle maker $Workhorse Group, Inc.(WKHS.US)$, which has a high percentage of shares outstanding held short, followed in third place with 1,640 mentions.
$AMC Entertainment Holdings Inc(AMC.US)$, $CLOVER HEALTH INVESTMENTS CORP(CLOV.US)$ and $Clean Energy Fuels Corp(CLNE.US)$ attracted 1,440, 1,349 and 1,341 mentions, respectively.
$GameStop Corp(GME.US)$ fell to the eighth spot and $BlackBerry Ltd(BB.US)$ slid to the tenth spot as the stocks were discussed only 1,244 times and 795 times, respectively. Burger chain $The Wendy's Co(WEN.US)$ received just 457 mentions.
Why It Matters
ContextLogic and Cleveland-Cliffs are seeing increased interest as retail traders see the two companies as targets of a potential short squeeze.
Cleveland-Cliffs' shares gained on Wednesday as iron ore prices rise amid supply concerns and the company announced it held a ribbon-cutting ceremony at a direct reduction plant in Toledo, Ohio.
Price Action
ContextLogic shares fell almost 8.9% in Wednesday’s regular trading session to $10.60, but rose almost 2% in the after-hours session to $10.81.
- Cleveland-Cliffs shares rose 14.6% in the regular trading session to $23.22 and further rose almost 2.5% in the after-hours session to $233.79.
Workhorse Group shares gained almost 8.5% in the regular trading session to $16.90 but declined 1.8% in the after-hours session to $16.59.
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