Welcome to TheSum #6. Before starting, thank you to all the new subscribers. You’re amazing! If you’re not subscribed yet, do it :) Subscribe for Free Meme stocks are the center of this letter. We're living in a moment where valuations and fundamentals don't matter anymore.
Not much movement for “standard” stocks. ABNB and UBER are rallying a bit too much in recent days. The peak earning season is passed, but investors are waiting for inflation stats that will be dropped today at 8:30 A.M. Eastern Time. Expectations of May CPI report an up 4.7%.
Moderna asks FDA to clear the Covid vaccine for adolescents 12 to 17. The study Moderna cited included more than 3,700 adolescents. No cases of Covid were observed in participants who received two doses of the vaccine, while four cases were observed in the placebo group, according to the company. Source: CNBC
Shares of Clean Energy Fuels surged 29.3% on Wednesday, coinciding with mentions of the company jumping on internet chat boards. Clean Energy Fuels was the second-most discussed name among retail traders in the last few hours before the bell Wednesday, according to data from HypeEquity. Source: CNBC