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‘Meme stock’ rally pauses, Redditors focus on biotech stocks

  • 📰 Reuters
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Small-time stock traders turned their attention to the biotech and healthcare sectors on Monday, lifting shares of some by as much as 10%, while the rally in stocks that were favored in recent weeks appeared to fade.

, which were at the center of the so-called "meme stock" rally this year, have seen their share price soar more than 1,100% since the end of December.

AMC shares were up 3.5% in early deals after jumping more than 300% in the past three weeks. GameStop shares rose 1.1%, while Vaxart was up 1.6%.jumped 12.5%. The company - which has a short interest of 18.25% of free float, according to Refinitiv data - was the top trending stock on Stocktwits, with a 26.9% jump in message volume.Subscribe for our daily curated newsletter to receive the latest exclusive Reuters coverage delivered to your inbox.

 

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