New Concept pop and dropNew Concept Energy has really ridden the wave of meme stock madness this week, kicking off Monday with a jump of 73% but saying goodbye to a lot of those gains on Tuesday to close down 37% as TradingView’s biggest loser for the day.
It's been an emotional rollercoaster as shares of the oil and gas company saw a crazy pop and drop. The company won massive gains on Monday, soaring over 73% as a range of small-cap stocks grabbed the attention of the retail trading crew. It’s not the first time the company has been a target of the infamous short-squeeze squad, the stock soared from $2 to $25 in just one day on January 28 – a jump of nearly 1,000%. Of course, prices swiftly sank back again in the days following, but the stock managed to hold on to some of its gains and was trading at around $5 last week.
Nothing’s certain in this life but death and taxes though, and while prices soared to highs of $30 on Monday, they were back down to $5.89 by Tuesday close.