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ContextLogic, Cleveland-Cliffs, Clover Strike Gains Pre-Market As GameStop, AMC Drop Lower On SEC Probe Warning

Shares of so-called stonks, or stocks popular with retail investors, are seeing mixed trading activity in the early pre-market session on Thursday.

ContextLogic Inc. (NASDAQ: WISH) has emerged as the most popular stock on WallStreetBets. Its shares are up 3.3% in early pre-market hours on Thursday as retail traders see the e-commerce platform company as the target of a potential short squeeze. The company’s shares closed 8.9% lower on Wednesday at $10.60.

Cleveland-Cliffs Inc. (NYSE: CLF) shares are up about 0.6% in the pre-market hours after closing 14.6% higher on Wednesday at $23.22 on higher iron ore prices and as the steelmaker held a ribbon-cutting ceremony at a direct reduction plant in Toledo, Ohio on Wednesday.

Workhorse Group Inc. (NASDAQ: WKHS) is down 2.7% in the pre-market hours after closing almost 8.5% higher on Wednesday at $16.90. The electric vehicle maker is seeing high interest from retail investors as it has a high percentage of shares outstanding held short.

AMC Entertainment Holdings Inc. (NYSE: AMC) shares are down 6.6% in pre-market activity. The movie theatre chain’s shares closed almost 10.4% lower on Wednesday at $493.34 after GameStop Corp. (NYSE: GME) disclosed that the U.S. Securities and Exchange Commission is investigating trading activity in the company’s securities as well as “the securities of other companies.”

Tilray Inc. (NASDAQ: TLRY) shares are down 1.5% in the pre-market hours. The shares closed almost 6% higher on Wednesday at $21.43 after the marijuana company on Tuesday announced the launch of a new medical brand, Symbios, as well as a new line of topical treatments under its Aphria brand.

GameStop Corp. (NYSE: GME) shares are down 7.8% in the pre-market hours after the company reported better-than-expected earnings for the first quarter but also revealed the SEC probe. The shares closed about 0.9% higher at $302.56 on Wednesday.

Clover Health Investments Corp. (NASDAQ: CLOV)  shares are trading higher by 9.2% in the pre-market hours. The medicare insurance technology company’s shares closed 23.6% lower at $16.92. S3 Partners analyst Ihor Dusaniwsky said Tuesday he estimates Clover’s short percent of float at 43.5%, making it one of the most heavily shorted stocks in the market.

Clean Energy Fuels Corp. (NASDAQ: CLNE) shares are down 1.9% in the pre-market activity. The renewable natural gas company’s shares surged 31.5% higher to close at $13.02 on Wednesday.

Read Next: WallStreetBets Has A New Trading Strategy To Target Stocks Beyond AMC, GameStop, Clover Health, Says Cramer

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