Newegg Commerce (NEGG) Surges 18% This Week: Should You Make A Bet On Meme Stock?

On Monday, July 19, Newegg’s stock was at $25.3. However, today it is gaining momentum as stock is currently at $29.9, resulting in an 18% gain. What prompted it? There was no company-specific news to account for the recent growth. But it has been designated so-called meme stock that has ardent backers among retail investors, and it tends to perform extreme volatility on whether there was good news, bad news, or no news at all.

Newegg Commerce owns and operates Newegg com, an online electronic products retail platform in the United States. The company offers computer hardware products, computers and tablets, electronic products, software, gaming products, cell phones and accessories, home appliances, home living, and improvement products, health and beauty products, automotive and industrial products, outdoor and garden supplies, office and point of sale products, sporting goods, watches and jewelry, apparel and accessories, toys, and baby and pet products.

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The company also provides Newegg Logistics, a logistics solution to help e-commerce sellers and organizations streamline order fulfillment, shipment, and returns. It serves corporations, businesses, and individuals. Newegg Commerce has a partnership with Payability, Inc. to launch Newegg Capital, a tech-enabled working capital solution for marketplace sellers.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.

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