Meme stock Top Financial Group Ltd. TOP rose 8.9% in premarket trades Tuesday after ending Monday’s session down 52.4%. The Hong Kong-based broker, which has been enjoying popularity with the Reddit group WallStreetBets, hit a record high last week. WallStreetBets has been a key player in the meme stock phenomenon that fueled rallies in AMC Entertainment Holdings Inc. AMC, GameStop Corp. GME, and Bed Bath & Beyond Inc. BBBY. TOP’s stock has risen 955.7% in 2023, compared with the S&P 500 index’s SPX gain of 8.6%.
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