CLOV - Why Clover Health Virgin Galactic and SmileDirectClub Shares Have Been Marching Higher This Week
Sometimes it's hard to know what makes a stock move one way or the other. Especially when retail traders are banding together on various online forums aiming to drive stock prices. Three names without company-specific news this week that have been moving higher are Clover Health Investments (NASDAQ: CLOV) , SmileDirectClub (NASDAQ: SDC) , and Virgin Galactic Holdings (NYSE: SPCE) . For the week through Thursday, Clover Health shares have jumped about 61%, while those of SmileDirectClub and Virgin Galactic are currently 19% and 13% higher, respectively.
Clover Health has been in the news all week as it became a new favorite among traders focusing on meme stocks -- until it wasn't. But a single-day surge of more than 80% on Tuesday has more than made up for what the stock has given back in subsequent days.
Virgin Galactic is part of the space tourism sector that made news this week when Jeff Bezos announced his plans to be on the first commercial flight of his Blue Origin spacecraft.
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Why Clover Health, Virgin Galactic, and SmileDirectClub Shares Have Been Marching Higher This Week