Nemaura Medical (NMRD) - Get Report, Ring Energy (REI) - Get Report, Senseonics (SENS) - Get Report, Zomedica (ZOM) - Get Report aren't exactly household-name companies - but they may be if their share prices keep exploding higher.
Nemaura Medical, Ring Energy, Senseonics and a host of other obscure "meme" stocks all surged on Monday, continuing the Reddit forum-driven rally that has propelled the likes of GameStop (GME) - Get Report, AMC Entertainment (AMC) - Get Report and even BlackBerry (BB) - Get Report and Express (EXPR) - Get Report to new heights - and depths.
Nemaura Medical jumped more than 50% in early trading, while Ring Energy climbed 28%. Other small- to mid-cap stocks including Vislink Technologies (VISL) - Get Report (up 22%), Phunware (PHUN) - Get Report (up 17%), Naked Brand (NAKD) - Get Report (up 8%) and Castor Maritime (CTRM) - Get Report (up 19%) also were trading higher.
The Redditt-driven market frenzy began in earnest last month, when retail traders using using Reddit messaging board WallStreetBets and StockTwits and placing trades through free online trading apps like RobinHood collectively ganged up on short-sellers with positions in stocks like GameStop and AMC.
Treasury Secretary Janet Yellen last week summoned U.S. financial regulators to discuss recent volatility in financial markets revolving around GameStop, AMC Entertainment and other disparate companies caught up in the trading frenzy.