Greenwave Technology (NASDAQ:GWAV) is currently experiencing a surge in popularity among traders on Reddit, despite the lack of significant news driving this trend. This interest comes at a time when meme stock trading is making a comeback, with the return of Roaring Kitty, who kicked off the meme stock rally in 2021.
Investors are hoping for a repeat of last year’s trend in 2024, but the landscape seems different this time around. Speculative traders are focusing on other stocks to boost in this year’s meme rally, with GWAV being one of them due to its recent surges in share price.
GWAV has seen heavy trading volume, with more than 570 million shares changing hands compared to its average daily trading volume of around 59.5 million shares. The stock price has surged by 61.6% as of Friday morning, although it remains down by 60.1% since the beginning of the year.
For those looking for more stock market news, there are updates on other companies such as Robinhood (NASDAQ:HOOD), Take-Two Interactive Software (NASDAQ:TTWO), and Reddit (NASDAQ:RDDT). These developments can be found in the links provided.
William White did not have any positions in the securities mentioned in this article at the date of publication. The opinions expressed are those of the writer and are subject to InvestorPlace.com Publishing Guidelines.
