Fashion retailer Express Inc (NYSE: EXPR) seems to be one of the stocks that soared on Wednesday as the ‘meme stocks’ frenzy seemed to return to the market.
In addition to Express, other familiar names like AMC and GameStop also experienced considerable gains. Last month many of these stocks had recorded enormous gains on the back of the actions of retail traders from the Reddit community WallStreetBets. On Wednesday, the Express stock soared by as high as 41% as traders seemed to pile on to the stock again.
However, that is not all. The rally continued in the after-hours trading period as well and during that time, the Express stock recorded gains of as big as 27%. In such a situation, it could be a good idea for investors to keep an eye on the stock over the course of the next few days and see where it goes.