GREE - The retail trading frenzy may have plateaued: Alpha Tactics
It was a mixed week for meme stocks. AMC (NYSE:AMC) fell 12%, while GameStop (NYSE:GME) rose nearly 8% on the week. IronNet Cybersecurity (NYSE:IRNT) a new favorite among WallStreetBest crowd according to data from Quiver Quantitative, rallied 40%, while another newcomer, AgileThought (NASDAQ:AGIL) gained 7% at the end. But Support.com continued to tumble as it changed to trade as Greenidge Generation (NASDAQ:GREE), finishing at $39.70, down from the equivalent price of a $102 right before the new shares traded. But while the excitement and volatility in individual plays continues, the effect of the retail trading crowd on the broader market may have reached its peak. "Retail trading has seemed to have plateaued at just over 40% of the total, below the February peak of 47%," Steven G. DeSanctis, small- and midcap strategist at Jefferies, writes in a note. But he notes that it's "still well above the longer-term average of about
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The retail trading frenzy may have plateaued: Alpha Tactics