• A Danish biotech stock surged 1,387% during US trading hours for no apparent reason amid chatter that it's getting the meme-stock treatment

    1 day ago - By Business Insider

    Peter Dazeley/Getty Images
    Peter Dazeley/Getty Images
    Orphazyme, a Copenhagen, Denmark-based biotech company, surged 1,387% in US trading Thursday.
    The small biotech firm said it wasn't aware of any material changes to the company.
    Orphazyme was the eighth most-mentioned stock on Reddit's Wall Street Bets Thursday.
    See more stories on Insider's business page .
    Shares of a small Denmark biotechnology company surged as much as 1,387% in US trading hours Thursday as chatter about the stock jumped on Reddit's Wall Street Bets. Orphazyme, which is researching treatment for rare diseases, closed...
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  • Meme stocks are transforming the market thanks to Reddit traders. Here's what it means to be a meme stock - and why they're viewed as a whole new asset class

    1 day ago - By Business Insider

    SOPA Images / Getty
    SOPA Images / Getty
    Meme stocks are becoming harder to define as more and more are added to the basket.
    But a few things are true: they have a big social media following and opportunity for price movement.
    Meme stocks are a form of "social uprising," said one market strategist.
    See more stories on Insider's business page .
    Ever since retail traders drove a record rally in shares of GameStop earlier this year, a new term has emerged on Wall Street. Meme stocks. The term - used as a catch-all to talk about a group of companies that have seen their stock surge since the...
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