- Meme-mania is being fueled by a new set of stocks as retail investors turn to Reddit and WallStreetBets for guidance.
- Celebrity SPACs are helping drive attention to one of the most popular short stock names on Fintel’s list
- Fintel uses algorithm-based short interest data to determine opportunities for retail investors.
- See more stories on Insider’s business page.
Meme-mania is showing no signs of stopping, as retail traders scour the markets for the best stocks to target with their buying. According to weekly research from market data analyst Fintel.io, there are five that are likely to come onto the radar of the members of Reddit’s various trading subreddits, as well as other forums.
Fintel’s Short Squeeze Explorer has compiled short-interest data to determine opportunities for retail investors this week. The most dramatic historical example of the power of a short squeeze has been GameStop at the start of the year, which gave birth to a new meme era in which stocks were purchased for reasons beyond the companies’ respective performance. That volatility also led to some hedge fund short sellers to lose billions along the way.
Fintel has laid out its five most likely targets for a retail-fueled short squeeze this week, which include some little-known underowned stocks.
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