(Reuters) – Shares of Clover Health Investments Corp jumped 13.3% in early deals on Wednesday, a day after small-time traders on online discussion forums sent its stock zooming 86% to a record high.
Medicare-backed insurance seller Clover Health, among the most shorted stocks across U.S. exchanges, has emerged as the new favorite of individual traders who had previously hyped shares of AMC Entertainment Holdings Inc and GameStop Corp in forums such as Reddit’s WallStreetBets.
Clover Health was one of the most heavily traded stocks before the bell after logging its highest trading volume on U.S. exchanges on Tuesday.
Shares of video game retailer GameStop were up 2.3%, while AMC and U.S.-listed shares of BlackBerry Ltd fell 4.1% and 1.0%, respectively.
(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Sriraj Kalluvila)
