Clover Health (NASDAQ:CLOV) stock is seeing major gains on Monday as Reddit traders boost up shares of the meme stock in a massive rally today.
Here’s everything you need to know about CLOV stock and how the meme stock rally is affecting one of Reddit’s favorite companies.
- Clover Health is a healthcare company that offers Medicare Advantage plans.
- Shares of CLOV stock are seeing heavy trading today as investors buy up shares.
- That’s resulted in more than 42 million shares of the stock changing hands as of this writing.
- For comparison, the company’s daily average trading volume is about 22.8 million shares.
- There’s no recent news from the company that would explain the recent interest from Reddit traders.
- Instead, it looks like the meme stock rally has caught the stock and is behind the positive movement today.
- That’s no surprise as retail traders have been rallying stocks for over a week now and that doesn’t appear to be slowing down.
- Investors will want to be careful as stocks in this rally could see major falls if the push from Redditors loses steam.
- That’s doubly so for stocks such as CLOV that are in penny stock territory.
CLOV stock was up 18.8% as of Monday morning but is down 31.8% since the start of the year.
Investors that want to catch up on the latest Reddit meme stock news can keep reading.
Several meme stocks are on the move today thanks to the Reddit rally. That includes MicroVision (NASDAQ:MVIS), RA Medical (NYSEAMERICAN:RMED), and Bionano Genomics (NASDAQ:BNGO). You can learn all about this at the links below!
More Mondy Reddit Meme Stocks News
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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