What Is Going On With Clover Health Stock?

Clover Health Investments Corp CLOV spiked more than 13% on Wednesday in the regular session.
What Happened: Clover Health stock shot up on a day when the so-called Stonks, or stocks favored by the retail investor crowd on social media, took the limelight.

See also: Best Healthcare Stocks Right Now

The health technology company dominated the top 10 trending tickers list compiled by Stocktwits. The number two position was taken by cannabis firm Tilray, Inc TLRY followed by BlackBerry Ltd BB.

On WallStreetBets, a Reddit forum known for carrying out short squeezes in GameStop Corporation GME and AMC Entertainment Holdings Inc AMC shares, Clover received 444 mentions over 24 hours and was among the most mentioned stocks.

The most discussed stocks on the forum were Blackberry Ltd BB, AMC, and GameStop, which attracted 7,916, 7,824, and 2,210 mentions, respectively.

In the after-hours session on Wednesday, Clover Health shares rose 12.36% to $9.82 after ending the regular session 13.07% higher at $8.74.

Why It Matters: Stonks skyrocketed Wednesday with AMC shooting up 95.22% to $62.55 and Blackberry surging 31.92% to $15.25 in the regular session.GameStop was up 13.34% to $282.24.

See Also: AMC Dizzying Rally On Wednesday Took Company's Valuation Rocketing Past Rival Stonk GameStop

Clover Health, which is backed by SPAC King Chamath Palihapitiya, joined the list of top trending stocks on WallStreetBets in April amid surging short interest.

At press time, Clover Health had a short interest of 36.10% and was ranked at the number two spot in a list arranged by highshortinterest.com.

On Wednesday, Palihapitiya launched four new SPACs targeting the biotechnology sector. Each blank-check company is seeking to raise $200 million and will not contain warrants.

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