CMGR - Clubhouse stock continues staggering rally but it's not the audio app

Clubhouse Media (CMGR) shares closed yesterday up nearly 81%, contributing to the over 1,000% rally this year as the Clubhouse audio app gains more press attention, largely thanks to Elon Musk's heavy participation.The problem is that CMGR has nothing to do with the audio app. Clubhouse Media is a social media branding marketplace benefiting from some investor confusion.The audio app Clubhouse hasn't filed for an IPO at this time but is reportedly courting investor interest at a $1B valuation. Clubhouse Media shares had a similar mistaken run-up earlier this month.

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Clubhouse stock continues staggering rally, but it's not the audio app