Second Sight, Auris Medical Soar As 'Meme Stock' Mania Continues

Shares of Second Sight (EYES), Auris Medical (EARS), Oragenics (OGEN) and OpGen (OPGN) are on the rise on Tuesday as the "meme stock" mania continues. So-called "meme stocks" typically trade at a premium and experience massive spikes in a short time, and while they often do not possess the financials to justify their price, "meme stocks" are usually popular among millennials and in retail trading. Second Sight, Auris, Oragenics, and OpGen join names like AMC Entertainment (AMC) and GameStop (GME), which saw massive outperformance recently fueled by social media buzz.

'MEME STOCKS': Calling Second Sight, Auris, Oragenics and OpGen "meme stocks" and "biotech penny stocks", Bloomberg noted that both Second Sight and Oragenics were up more than 60% in early trading this morning as trading volume had exceeded "several million shares apiece." Second Sight volume of trading was over 7.1M earlier on Tuesday, and Oragenics volume was over 5M, according to Bloomberg. Auris volume was also high at over 3.2M shares in the early going this morning.

WHAT'S NOTABLE: Roblox (RBLX), which will start trading on the New York Stock Exchange later this week, is poised to emerge as the next "meme stock," Bloomberg's Cristin Flanagan wrote. Mentions of the stock on Reddit picked up ahead of the countdown to this week's listing, after a 2020 target for an initial public offering was scuttled and eventually replaced with the plan for a direct listing, the author noted.

PRICE ACTION: In morning trading, shares of Second Sight have jumped over 31% to $15.42, while Auris Medical's stock has gained almost 71% to $5.84. Also higher, Oragenics has advanced more than 36% to $1.15 and OpGen has jumped about 22% to $3.26.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at  more

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