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New meme stock Corsair Gaming jumps 33% amid surging interest from Reddit traders

Business Insider logo Business Insider 6/14/2021 ilee@insider.com (Isabelle Lee)
logo, company name: Omar Marques/SOPA Images/LightRocket via Getty Images © Omar Marques/SOPA Images/LightRocket via Getty Images Omar Marques/SOPA Images/LightRocket via Getty Images

A new meme stock is making the rounds on Wall Street Bets, surpassing mainstays such as GameStop and AMC Entertainment as the forums most-discussed company.

Shares of computer hardware company Corsair Gaming rose 33% on Monday to their highest since February this year, amid a surge in interest from Reddit traders.

In the past 24 hours, Corsair was the most mentioned stock on the 10-million member strong Wall Street Bets forum, garnering over 1,310 mentions, according to data from Quantitative Quiver. Clean Energy Fuels ranked as the second, followed by AMC.

One user on Monday claimed Corsair will "swallow the gaming industry and be a millionaire maker stock."

The nearly 900-word post, which explained why the company is in a strong position to leverage demand in the gaming sector received nearly a thousand upvotes.

"Put this in your boomer dad's portfolio (shares) and If you like gambling, buy some calls," the post said.

Another post, which also received a thousand upvotes, detailed five stocks to watch out for this week, including Corsair. Others on the list are BlackBerry, Clean Energy, AMC, and GameStop.

Data from MarketBeat also show that 21.8% of Corsair's shares are sold short, in contrast to Clean Energy's 5.91%.

Meme stocks, an umbrella term describing a group of companies that have seen their stock surge since the GameStop craze in January, have been on the move again as of late. AMC shares surged at the end of May, while a new group of meme-stock names have been making the rounds on forums frequented by retail traders.

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