The Blubber

Yesterday was an action packed hype train, with popular stocks we’ve covered before pushing higher amid a frenzy of buying an options flow. Vinco Ventures (BBIG) for example, whose unusual options activity we’ve analyzed a number of times, saw a jump of 21% yesterday, closing at $9.66. This morning during pre-market trading, BBIG reached up to an additional 17%, and held above $11.20 as market-open neared.

Another meme veteran, Clover Health (CLOV), received nearly identical treatment, ending the trading session yesterday at $10.80, over 22% higher than it opened. As we observed in previous articles, the unusual options activity for both of these stocks has been significant. However, what we haven’t analyzed quite so closely are the other factors that help a stock gain traction; in this instance, Reddit and Furu Twitter.

Leading up to, and during, yesterday’s rally for BBIG and CLOV, social media was teeming with energy. CLOV saw major discussion on Reddit, especially. In the image below, taken from the Unusual Whales “Socials” page (which tracks ticker mentions across various subreddits, such as r/investing, r/options, and then infamous r/WallStreetBets), it’s apparent that CLOV quickly rose to the top of Reddit’s buzzworthy ticker mentions.

We last took a quick look at the Unusual Whales Socials page when analyzing movement on SKLZ earlier this month. In that article, we noted that SKLZ had come in second only to SPY on the Reddit chatter, which is no small feat given how talked-about SPY always is. The last 24 hours, however, have been all about CLOV, coming in with 702 mentions, over 2.6x the 267 mentions that SPY received. This shows some serious hype for CLOV, which was reflected in the flow yesterday, and in the stock price itself.

Aside from Reddit, CLOV also topped the charts of Twitter Furu mentions, accompanied by BBIG. Both CLOV and BBIG received 34 mentions from Furus on Twitter, followed closely by Apple (AAPL) with 30 mentions, and Tesla (TSLA) coming in at #4 with 28 mentions. The subsequent stocks on the leaderboard don’t compare, with one reaching a little over half the mentions, and most receiving only a fraction of attention.

Seeing a stock’s popularity is an important part of tracking the stock’s movement. In this case, the flow pre-dated the hype (note: although BBIG and CLOV have been discussed and have made major movements in the past, I am referring now to the most recent spike from yesterday); but that isn’t necessarily going to be the case every time. In the future, I will be providing some insight to individual tickers on the Socials tracker, and explore their flow in relation to their popularity. For now, Socials is a great tool to use in conjunction with the flow; and to see what the biggest names on Twitter are talking about.