Aggregated price index with volume information
Summary:
- The momentum of the sector is very strong.
- WallStreetBets stocks down 3.6% on average while median return down 1.1% in a day
- WallStreetBets stocks up 24.2% on average while median return up 5.1% in a week
- WallStreetBets stocks up 43.2% on average while median return up 13.3% in a month
- When average return is significantly different from median return, this implies an asymmetry - composite return is driven by some outliners.
Aggregated price index (close) is based on equal weighted constituencies returns. Average short volume and average total volumes are averaged across all volume data among constituencies.
- 1M winners are : Winners for past month are $GME 115.4%, $KOSS 103.8%, $AMC 50.7%
- 1M losers are : Losers for past month are $WEN -3.2%, $GEO -9.1%
- 1W winners are : Winners for past week are $AMC 51.2%, $KOSS 49.7%, $GME 27.2%
- 1W losers are : Losers for past week are $GEO -0.4%, $WEN -3.2%
Correlation Analysis
Index correlation analysis
Correlation for the past month is 19.7%, for the past 3 months is 14.8%
In the past month for a 5 days rolling window, the highest corrrelation is 34.8%, the lowest correlation is -6.4%, the latest correlation is 23.5%
When a correlation deviated from the normal level and goes lower or even negative, it indicates some of stocks have deviated from the normal direction of the group. The deviation could reverse if long term level of correlation was at a higher level. It creates trading opportunities and deserves study whether the deviation is idiosyncratic or systematic.
Among pairwise correlation, the highest correlation is 88.9% between GME and KOSS
The lowest correlation is -26.5% between GEO and GME
GME stock tumbles after GameStop's preliminary Q1 results disappoint. A major short seller returns. Robinhood sees double upgrade. Meme rally fizzles.
Stocks were mostly unchanged as investors await Nvidia earnings. Fed Chair Powell tested positive for Covid. GameStop fell on preliminary results.
Today's Research Daily features new research reports on 16 major stocks, including Microsoft Corporation (MSFT), Eli Lilly and Company (LLY) and Costco Wholesale Corporation (COST), as well a micro-cap stock Koss Corporation (KOSS).
GameStop's stock recently experienced a dramatic surge, reminiscent of the 2021 meme stock phenomenon. On May 13, 2024, GameStop (GME) shares skyrocketed more than 70% in just one day, reviving memories of the retail investor frenzy that captivated the financial world three years ago. This unexpected spike was triggered by a viral social media post from "Roaring Kitty," a key player in the initial meme stock craze. The stock plummeted more than 20% just a few days later when the video game retai...
Hedge funds ditched bearish stock bets early this week at some of the highest rates in three years as U.S. meme stocks rallied sharply, a Goldman note seen by Reuters on Friday showed. The note, published on Wednesday just before the rally faded, said hedge funds dropped positions on the most actively shorted stocks tracked by a Goldman Sachs index. Most hedge fund short covering, when investors have to buy back stock borrowed for bearish bets, came from stocks tracked in the Goldman Sachs ind...
GameStop shares (GME) sank after the company said it plans to sell more shares and revealed that revenue slid in its latest quarter. + GameStop has about 306 million shares outstanding. GameStop stock stood 25% lower in recent trading.
The videogame retailer filed to sell up to 45 million more shares after projecting quarterly sales to drop.
GameStop (GME) plummeted more than 20% after announcing it may issue up to 45 million additional shares. The video game retailer also released first quarter preliminary results that show a decline in net sales from the same quarter a year ago. Overall, stocks (^DJI,^GSPC, ^IXIC) are relatively flat, but still on track to post weekly gains. Investors next week will start turning their attention to earnings from retailers like Macy’s (M) and Target (TGT) as well as tech giant Nvidia (NVDA). Trendi...
Markets (^DJI, ^IXIC, ^GSPC) hope to solidify gains seen during this trading week and close above recent milestones: the Dow Jones Industrial Average is in a back-and-fourth bout to stay above 40,000 as the S&P 500 teeters above the 5,300 mark. BMO Capital Markets Chief Investment Strategist Brian Belski joins Catalysts Anchors Seana Smith and Madison Mills to lay out what circumstances could propel the S&P 500 above 5,600 points. As GameStop (GME) shares tank and meme stock sentiments pull back...
Major stock indexes traded near the flatline in afternoon Friday. AMD and CrowdStrike were top gainers on the stock market today.