Connect with us

Altcoin

New Meme Stocks Rally to Over 30% amidst Ongoing SEC Meme Stocks Probe

Published

on


A fresh group of meme stocks ($GEO and CLNE) has superseded $CLOV, $WISH, $SPCE, $AMC, and $GME in their recent rally, gaining over 30%.

Meme stock Clover Health Investments Corp. CI A (NASDAQ: CLOV) was trading around $17.49 up 2.19% in today’s pre-market session. Previously, the meme stock rallied 86% and closed at $22.15, erasing five months’ worth of losses. ContextLogic Inc. platform – Wish (NASDAQ: WISH) stock was at $11.37, up 7.26%, also in today’s pre-market session.  Additionally, Virgin Galactic Holdings Inc (NYSE: SPCE) stock was at $34.97, down 0.54%.

Older WallStreet’s favorite meme stocks such as AMC Entertainment Holdings Inc (NYSE: AMC) stock was $48.23, down 2.41%, and GameStop Corp  (NYSE: GME) was $284.30, down 6.04%. The latter has, however, seen its shares climbed up over 1500% this year. Moreover, AMC and Clover Health have spiked up at least 80% in June, but this has brought the Russell 3000 Index up 1% only.

New Meme Stocks Gaining, SEC Monitoring Continues

Of note, a fresh group of meme stocks ($GEO and CLNE) has superseded $CLOV, $WISH, $SPCE, $AMC, and $GME in their recent rally, gaining over 30%. The new batch has created a trading craze and rising speculations of short squeezes. Geo Group Inc. (NYSE: GEO), a real estate investment trust company, saw its shares rise 38% in Wednesday’s intraday trading. In today’s premarket, the company stock was at $8.21, down 6.70%. Clean Energy Fuels Corp. (NASDAQ: CLNE) saw a 32% gain and was at $13.70, up 4.61% during today’s pre-market session.

Meanwhile, the U.S. SEC reported earlier this week that it plans to conduct investigations in markets for any signs of meme stocks manipulation. Additionally, SEC chairman Gary Gensler instigated reviewing of the stock markets’ structure, including the best execution requirements.

Meme stocks have continued to rally, despite the stumbling block from SEC’s ongoings. In Europe, Air Berlin PLC & Co (FRANKFURT: AB1) surged 138%, more than its previous day’s hike of 54%. In today’s market, its stock traded at €0.03, down 19.60%. Meanwhile, Wendy’s Company (NASDAQ: WEN), a fast-food restaurant chain, saw a drop in its shares after Stifel and Northcoast analysts downgraded it to hold rather than buy.

“This is far from just something that the Reddit traders are playing in. There are a lot of momentum-based hedge funds (with algos) that have a lot of money pushing these things around,” Matt Maley, a chief market strategist from Miller Tabak + Co., LLC said. He also added that recent meme stock gains show a ‘liquidity phenomenon’.

Maneesh Deshpande, an analyst from Barclays said in a note that the rally in the fresh meme stocks increased the daily single stock option volume to around $383 billion in the past week.

next Business News, Market News, News, Stocks

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



Source link

Altcoin

Amber Group Announces New Amber App Referral Program

Published

on

By


Place/Date: Hong Kong – June 15th, 2021 at 8:37 pm UTC · 2 min read
Contact: Amber Group,
Source: Amber Group

Amber Group  the leading crypto trading and technology firm, announced new user perks and an enhanced referral program on its popular crypto finance mobile app – Amber App. Starting today, qualified new users are eligible to receive 18 USDS and up to 16% APR on BTC, ETH, and USD stablecoin deposits.

In addition, current Amber App users are now eligible to win an additional 10 USDS for each qualified referral, an 11% bonus from the referral’s Earn interest (excluding Flexible Earn), and Yield Boost subscription, and up to 34% on trading commissions.

Michael Wu, CEO of Amber Group, said:

“Since the inception of Amber Group, our goal has always been to provide our users with an unmatched crypto finance experience. We now serve users of all levels and hope the new user and referral incentives encourage new crypto adopters to explore the suite of crypto offerings we have built. We look forward to adding even more features and supporting new tokens soon.”

According to Amber Group, though BTC and ETH are still the preferred crypto investments, demand for DeFi tokens is booming. Amber Group has added DOT and BNB to its Flexible Earn feature, allowing users to earn up to 5% APR on their investments by simply depositing the tokens in the Amber App wallet. Amber Group plans on adding over a dozen new tokens to these investment features in the coming months.

In the past 5 months, Amber App has seen 4x growth with registered users crossing 100,000. Amber App now supports three new languages, Japanese, Turkish, and Russian in addition to English, Simplified Chinese, Traditional Chinese, Korean, Spanish and Portuguese. Users are also able to login to the app with their Facebook/Google account.

The Amber App is now available on the App Store and Google Play Store in over 140 countries and regions.

About Amber Group

Amber Group is one of the world’s leading crypto finance service providers, operating 24/7 with a presence in Hong Kong, Taipei, Seoul, and Vancouver. In 2019, the company raised $28 million in Series A funding led by Paradigm and Pantera Capital, with participation from Polychain Capital, Dragonfly Capital, Blockchain.com, Fenbushi Capital, and Coinbase Ventures.



Source link

Continue Reading

Altcoin

Bitcoin price hits $41K, then rejects after sellers defend the 200-MA

Published

on

By


The overall mood of the cryptocurrency ecosystem is muted on June 15 with most altcoins trading flat while Bitcoin (BTC) bulls look for a daily close above $41,000 as a sign that the market could be shifting in favor of bulls.

Data from Cointelegraph Markets Pro and TradingView shows that within the last few hours Bitcoin price rallied to $41,330 but the breakout was swiftly met by selling at overhead resistance levels.

BTC/USDT 4-hour chart. Source: TradingView

Another gauge of investor sentiment as highlighted by Rekt Capital is the 200 exponential moving average (EMA), which Bitcoin attempted to surpass on Tuesday but was firmly rejected. 

Bitcoin’s rejection at the 200 EMA was followed by a rapid sell-off to $39,500, showing that a possible move lower is not out of the question.

A few altcoins rally on positive news

Daily cryptocurrency market performance. Source: Coin360

While most of the altcoin market saw muted price action on June 15, Shiba Inu (SHIB) rallied 33% following the revelation that trading for the token would be supported on Coinbase Pro on June 17.

Following the announcement, Chiliz (CHZ) and KEEP also rallied 18% and 10% respectively. 

Icon (ICX) also received a boost following the release of a new Ethereum (ETH) Virtual Machine (EVM) compatible blockchain called ICE. ICE is expected to become the application hub for the Icon project and it will have its own native token.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ICX on June 13, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. ICX price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score began to turn green on June 12 and eventually reached a high of 75 on June 13, 10 hours before the price increased 35% over the next two days.

Other notable altcoin performances include a 22% jump from Amp (AMP) and a 20% gain for iExecRLC (RLC) and Ultra (UOS).

The overall cryptocurrency market cap now stands at $1.685 trillion and Bitcoin’s dominance rate is 44.6%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.