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Future Fintech Jumps After Meme-Stock Investors Trade Notes

Future Fintech shares jumped 20% Friday and are up again Monday as retail investors on internet forums discuss the company.
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Shares of Future Fintech  (FTFT) - Get Future FinTech Group Inc. Report jumped after investors on internet stock-trading forums Reddit and StockTwits traded notes on the blockchain company 

Participants on Stocktwits commented, for example, "like that short percent + ratio" and "0 shares available to short? That correct? Are we getting a real squeeze? I gave up on this."

Future Fintech shares at last check jumped 18% to $3.41. The stock closed Friday's session up nearly 21% and is up more than 55% year to date. 

The former juice company has pivoted into a blockchain company.

TheStreet Recommends

While meme stocks can be found in a number of sectors, TheStreet's Jim Cramer has identified efforts to squeeze short sellers as a unifying factor among them.

Short-selling is a bet that a stock price will drop. A short-seller borrows stock and sells it; if the stock drops, the short-seller buys the stock back and returns it to the lender, pocketing the difference in price. 

A short squeeze is a move to push up a stock's price until short-sellers cover their bets by buying the stock.

“The memesters try to find stocks that are heavily shorted and try to bust the people that short it," Cramer said recently.  

Future Fintech stock is joining other meme stocks like Robinhood  (HOOD) - Get Robinhood Markets, Inc. Class A Report, GameStop  (GME) - Get GameStop Corp. Class A Report and AMC Entertainment  (AMC) - Get AMC Entertainment Holdings, Inc. Class A Report