US stocks Bed Bath & Beyond and AMC Entertainment Holdings were among the most heavily traded securities by customers of local investment platforms this week.
Beyond and AMC Entertainment Holdings were among the most heavily traded securities by customers of local investment platforms this week, as Australians joined the Reddit-fuelled frenzy once again sweeping global sharemarkets.Beyond were the most popular trade among customers of SelfWealth in the past two days, according to data supplied toMore than half of Bed Bath & Beyond shares available for trading are currently sold short, according to data from analytics firm S3 Partners.
Reddit forums such as WallStreetBets, which has 12.4 million members worldwide, have used a proliferation of symbols synonymous with the bull market, such as rocket ship emojis and memes featuring Disney character Buzz Lightyear, whose motto is “to infinity and beyond”. “I think investors saw what happened with GameStop last year and are keen not to miss the boat this time around,” Superhero co-founder John Winters told the“We know that platforms like Reddit are very popular with investors and the recent popularity of stocks like BBBY and AMC looks to be driven by hype on some of these platforms. However, investors need to remember it’s buyer beware, and they should consider the risks.
The platform, which has more than 100,000 users , was the only Australian player not to block trades in GameStop during the infamous rally in January last year.
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