Clover Health reverses earlier gains as some meme stocks slip
06/09/2021 15:45
(Reuters) -Shares of Clover Health Investments Corp slid on Wednesday in seesaw trading, a day after the new retail trader favorite soared about 86%, the latest meme stock to join the frenzy that has captivated investors this year.
The Medicare-backed insurance seller's shares were recently down around 7% at $20.54 after climbing to nearly $29.
Clover Health has been among the most visible of new meme stocks popular with retail investors on forums such as Reddit's WallStreetBets. The new crop has shot higher in recent days following a resurgence in shares of video game retailer GameStop Corp and movie theater company AMC Entertainment Holdings.