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American Airlines rose 31% on Thursday, as traders who attend Reddit’s WallStreetBets forum put slight pressure on a growing list of stocks this week.
“AAL the next GME?” a Reddit user asked in a post on Wednesday.
After successfully expelling GameStop’s hedge fund managers, Reddit investors set their sights on other highly sold companies.
American Airlines appears to have fitted into the project, with about 30% of the float sold short. In addition, the company had a catalyst to define the movement: profits.
On Thursday, the airline reported better-than-expected results in the fourth quarter, exceeding revenue and revenue estimates.
The shares hit a $ 30 high on Thursday’s pre-market trading, representing a gain of up to 81%. And short-cap earnings do not appear to be diminishing yet, as evidenced by GameStop, which skyrocketed more than 40% in Thursday morning trading, to a high of nearly $ 500.
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