(Reddit) Corsair Gaming dominated Reddit forum chats for the better part of the weekend and Monday that saw the stock surge as much as 25%.
Short float raised to 5.76 million shares in CRSR, representing 18.32% of all shares float, according to WSJ data.
With the stock trading at around the $40 price level or below, some Reddit members were already betting for $60 as the target.
Corsair trended on WallStreetBets, with traders hailing the stock as a game changer in the gaming industry and a “millionaire maker’ stock.”
Corsair made about $529.41 million revenues in the first quarter of 2021, up 71.60% from the comparable quarter of 2020.
The robust revenue growth of Corsair is seen by retail investors as a vital clue to its growth potential and a favorite meme stock in a fast-growing streaming niche.
CRSR: NASDAQ is up +15.40%.
