Workhorse Stock – Meme Stocks Fall: BlackBerry Off 5.9%; Clean Energy Up 5.1%
Stocks of companies receiving attention in social media platforms were generally lower Friday. Among notable meme names, three rose while 14 fell.
Clean Energy Fuels (CLNE) – Get Report shares rose 56.64 cents, or 5.09%, to $11.69. Clean Energy CEO Andrew Littlefair, spoke with TheStreet’s Jim Cramer on Mad Money Thursday, discussing the company’s shift to renewable natural gas, which comes from animal waste. The shift caught the attention of Amazon.com, which has partnered with the company and holds options to take a 20% stake. Read more here in the Mad Money recap.
ContextLogic (WISH) – Get Report shares rose 27 cents, or 2.4%, to $11.50.
Workhorse Group (WKHS) – Get Report shares rose 28.99 cents, or 2.01%, to $14.74.
Over on Real Money, Cramer says: “Pull up a chair and let me tell you what drives these insane moves in a way that you can understand them and even profit from them.” Read more about why he’s behind tech and fintech, and which stocks he thinks are poised for profit.
Among decliners, BlackBerry (BB) – Get Report shares fell 79.1 cents, or 5.85%, to $12.72. BlackBerry, which once dominated mobile phones (before Apple (AAPL) – Get Report iPhones came on the scene), saw its shares hit a 9-year high in recent weeks as chat-room players talked up the company. BlackBerry now focuses on cybersecurity offerings.
Cleveland-Cliffs (CLF) – Get Report shares fell $1.07, or 5.05%, to $20.12. Cramer argued recently that Cleveland-Cliffs is more than just a meme story, as it has moved to a dominant position as a vertically integrated steel producer at a time when industrial production is beginning to shift back to the U.S.
Corsair Gaming (CRSR) – Get Report shares fell $1.17, or 3.54%, to $31.89.
The Nasdaq Composite Index fell 143.49 points, or 1%, to 14,017.86.
Five meme stocks outperformed the Nasdaq Composite while 13 lagged.
The SoFi Social 50 ETF (SFYF) – Get Report fell 13.01 cents, or 0.34%, to 38.52.