A post on the popular Wallstreetbets Reddit website shot up the WWE stocks by over 10% at time of this writing.
Just 9 minutes after trading opened, WWE stocks went up to $70.72, a 52-week high but has now settled in the mid-60s. The spike came after an r/wallstreetbets user posted an up-beat story, titled ‘$WWE – Can you S.M.E.L.L. what the stock is cooking?‘ about WWE stocks with a lot of financial and historical data, urging fellow investors to buy WWE stocks.
WWE stocks closed the day yesterday at $58.15 and then opened at $63.01 with the opening bell. The spike pushed WWE’s market cap to $4.44 billion at time of this writing.
The Reddit Wallstreetbets forum is popular for promoting meme stocks, sending GameStop, AMC, and other stocks “to the moon”…and back.