Could LYFT become the next meme stock ?
LYFT Inc (NYSE:LYFT) is currently trading at 18.02$ and rumors are ripe that Lyft, the ride-sharing company could be a buyout target. Shares of LYFT have jumped as high as 17% on Thursday on apparent rumors circulating on social media.
Could short get caught ?
Apparently, Lyft has fairly heavy short interest (12% short, 2.6-days to cover), which could invite ‘meme stock’ dynamics and attempts at manipulation from online forums,” analyst Rob Sanderson wrote in a Friday note.
Stocks that have previously gained popularity on online forums surged as retail traders piled into them. Some of the biggest examples of these so-called meme stocks are AMC, GameStop and Bed Bath & Beyond.
As always, follow traders vigilance and conduct your own Due Diligence.