ATNM - Why Is Getty Images (GETY) Stock Up 33% Today?
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Getty Images (NYSE:GETY) stock is rising higher on Monday despite a lack of news concerning the company today.
Instead, it looks like speculative meme stock traders are behind the rise of price for GETY stock today. Evidence of that includes the more than 7 million shares changing hands as of this writing. Without any news to speak of, this heavy trading is likely a sign of retail traders buying shares.
Companies that have been of interest to traders lately include those that went public through special purpose acquisition company (SPAC) mergers. Getty Images fits this description with its shares going public earlier this year after such a merger.
Expert Opinion on Today’s Movement
Keith Lerner, chief market strategist at Truist Advisory Services, provided Bloomberg with the following insight on GETY stock today.
“The first thing you have to realize with these stocks is there’s no rhyme or reason. They don’t trade based on the big macro trends normally. They trade on speculation and liquidity. Stocks that can move up that much in one day on no news can move down just as quickly. That’s the warning flag for investors.”
GETY stock is up 33.3% as of Monday afternoon but is still down 26.5% since going public earlier this year.
Investors looking for more of the latest stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market coverage traders need to know about on Monday! Among that is what has shares of Perfect (NYSE:PERF) stock rising, the news sending Actinium Pharmaceuticals (NYSEMKT:ATNM) stock higher, as well as why Paramount Global (NASDAQ:PARA) shares are sliding. You can find all of that at the following links!
More Monday Stock Market News
- PERF Stock Soars 21% on First Trading Day
- Actinium (ATNM) Stock Pops on Positive Trial Results
- Paramount Global (PARA) Stock Slips on Wells Fargo Downgrade
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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