Meme stocks were on the menu again Wednesday with shares of GameStop (NYSE: GME) and Naked Brands Group (NASDAQ: NAKD) rising in midday trading while Tonix Pharmaceuticals (NASDAQ: TNXP) took a breather after yesterday's 13% rise . Its stock was down 2% at noon EDT.
GameStop rose 3.5% on Monday, surged 28% on Tuesday, but was nominally up 0.6% today. Naked was essentially flat on Monday, but jumped 13% yesterday, and was adding another 8% onto its gains today. Being a penny stock trading below $1 per share, however, will make it more volatile than otherwise.
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Why Meme Stocks GameStop, Naked, and Tonix Were on the Move Today