Reuters

Meme stocks soar in late day trading surge, short sellers knocked

GameStop shares jumped 27.53%, AMC shares climbed 20.3%, Clover Health Investments rose 9.9%, Koss Corp rose 4.4%, Robinhood Markets climbed 9.0% and ContextLogic rose 6.4%. “When you get a move that big it almost makes you think there is some big hedge fund or something out there that decided to do some trades,” said Randy Frederick, managing director of trading and derivatives at Schwab Center for Financial Research. Frederick, however, said he had seen little in the way of news to spur the large share price moves on Tuesday.

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