The market as a whole continued to tread water today, June 2, as it waits for Friday’s report on May job gains. The Standard & Poor’s 500 closed up 0.14% and the Dow Jones Industrial Average finished ahead 0.07%. The NASDAQ Composite ended higher by 0.14% and the NASDAQ 100 moved up by 0.16%. The small cap Russell 2000 index gained 0.13% and the iShares MSCI Emerging Markets ETF closed higher by 0.16%.
So, ho hum, right?
Unless you looked at the “meme” stocks that are the favorites of individual investors and investment boards on Reddit. AMC Entertainment (AMC), for example, picked up another 95.22% today. GameStop (GME) added 13.34%. QuantumScape (QS) rose by 8.84%. PetMed Express (PETS) climbed by 58.39%.
Electric car charging stocks had a good day with Blink Charging (BLNK) gaining 8.84% and ChargePoint (CHPT) added 5.16%. Climate Change Crisis Real Impact I Acquisition Corporation (CLII) (“CRIS”), a special purpose acquisition company (SPAC) that is acquiring charging company EVgo , announced today that the special meeting to approve the reverse merger will by held on June 29. On the news that the deal has reached another milestone, shares of the SPAC rose 6.84%.
Chargepoint and Climate Change are members of my Volatility Portfolio.
I own shares of Climate Change and QuantumScape in my personal portfolios.