‘Meme stock’ rally pauses as Redditors focus on biotech stocks

Popular Reddit trading group WallStreetBets goes private

Small-time stock traders turned their attention to the biotech and healthcare sectors on Monday, lifting shares of some by as much as 10%, while the rally in stocks that were favored in recent weeks appeared to fade.

Individual traders on forums such Reddit’s WallStreetBets have acted in concert this year to bid up shares of heavily shorted stocks, triggering a phenomenon known as a “short squeeze”, which pushes up stock prices even more.

Which specific stocks are they going in on now?

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