By Kuldip K. Ambastha
On Monday, June 14, 2021, the stock of Corsair Gaming, Inc. (CRSR) had a +11.2% gain for the trading day. Why? Corsair Gaming is a new meme stock being followed closely by people on Reddit’s r/WallStreetBets and other online platforms. Corsair Gaming provides high-performance hardware equipment for videogame players and content creators. The company has benefited from lockdowns initiated worldwide due to the coronavirus pandemic. With more and more people staying at home, the company’s hardware equipment saw greater demand than in the past. If and when public health conditions massively improve in the future, this greater demand may fade away. Retail investors on Monday, June 14, 2021 were able to generate a big gain for the trading day through Corsair Gaming, but the rest of the trading week saw negative trading day returns posted instead for the stock. As always, the future is uncertain and only time will tell if Corsair Gaming can deliver strong, positive trading day gains going forward.
Keywords – Corsair Gaming, Inc., Corsair Gaming, Corsair, CRSR, videogaming, videogames, videogame, gaming, games, game, hardware, equipment, Reddit, r/WallStreetBets, COVID-19, coronavirus, pandemic, lockdown, public, health, past, present, future.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in CRSR.
Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2021 – Ambastha Financial LLC.