Shares of GSI Technology, which sparked meme-like buzz, set for longest winning streak since July
By James Rogers
Chip maker GSI Technology sparked meme-like buzz last year when it attracted attention from users posting on Reddit
GSI Technology Inc. shares climbed 11.05% Thursday, putting the memory specialist on pace to extend its winning streak to four days - its longest such streak since July 13, 2023, when it rose for four straight trading days, Dow Jones Market Data show.
The stock rose on volume of 3.12 million shares, well above its 65-day average of 321,780 shares.
Related: Small-cap GSI Technology generates meme-like buzz
GSI Technology's stock (GSIT) is up more than 66% during the last four consecutive days, marking its best four-day stretch since the four days ending May 17, 2023, when it rose 165.85%.
The stock is up on no apparent news and is trading at $4.02, putting it on pace for its highest close since Aug. 3, 2023, when it closed at $4.22.
Related: GSI Technology, which sparked meme-like buzz, clinches AI deal with U.S. Air Force
The chip maker sparked meme-like buzz last year, attracting attention from users posting on Reddit. With a market capitalization of $91.57 million, GSI Technology is relatively small, particularly when compared with original meme-stock darlings AMC Entertainment Holdings Inc. (AMC) and GameStop Corp. (GME).
GSI Technology shares have risen 46.6% in the last three months, outpacing the S&P 500's SPX gain of 11.6%.
-James Rogers
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
02-29-24 1556ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
Going Into Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening in the Markets This Week
-
4 Top Dividend-Paying REIT Stock Picks
-
After Earnings, Is Netflix Stock a Buy, a Sell, or Fairly Valued?
-
P-CAPE: A Better Way for Investors to Estimate Future Returns
-
Which Stocks Have Driven the Stealth Large-Value Rally?
-
Forecasts for Q2 GDP Report Show a Healthy but Slowing Economy
-
5 Stocks to Buy as the Market Rally Broadens
-
4 Top US Travel Stock Picks
-
How Do Interest Rates Affect Stock Market Returns?
-
American Airlines Earnings: Ticket Distribution Misstep Affected Results
-
Going Into Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
3 Top Cybersecurity Stock Picks for Long-Term Investors
-
AbbVie Earnings: Firm Sees Strong Next-Generation Immunology Drugs Sales
-
Ford Earnings: Warranty Problems on Older Vehicles Slam Results
-
ServiceNow Earnings: Operating on a Higher Plane Within Enterprise Software