Newest meme stocks extend gains with no sign of craze fading

Pedestrians pass in front of the New York Stock Exchange in New York on May 12, 2021. Foto: Bloomberg/Amir Hamja

Another batch of names has been added to the meme-stock frenzy as retail traders latched on to their latest favorites Wednesday.

Prison operator GEO Group Inc. soared 40% while Clean Energy Fuels Corp. jumped 21% as of 10:41 New York, supplanting names like ContextLogic Inc. and Clover Health Investments Corp. that had led the charge higher on Tuesday. Meanwhile, shares of fast-food restaurant chain Wendy's Inc. reversed gains from Tuesday after both Northcoast and Stifel downgraded the stock to hold-equivalent recommendations from buy...

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