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One of the original "meme stocks" Koss Corporation (NASDAQ:KOSS) shares are climbing Tuesday on heavy trading volume. Here's a look at what's going on.
What To Know:
Koss shares exploded higher in early July as retail investors circulated a social media post speculating on a possible connection between GameStop Corporation (NYSE:GME) and Koss. The post attempted to extract a pattern from a series of emojis posted by Roaring Kitty, and some investors speculated that Koss could be the next stock Roaring Kitty will target based on the sequence of emojis.
Koss gave back a large portion of its gains from the beginning of July, however the stock remains up by more than 150% over the past month. Koss is moving higher on heavy volume Tuesday with more than triple the stock's average daily volume already traded in the session, according to data from Benzinga Pro
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Koss was granted a U.S. patent for "personal acoustic systems and flexible earpiece mounts for the same" last week, though the stock is moving Tuesday despite a lack of company-specific news.
According to data from Benzinga Pro, Koss shares are trading above the stock’s 50-day moving average of $5.25 and 11.91% of available shares are being sold short.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Koss’ case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
KOSS Price Action: According to Benzinga Pro, Koss Corporation shares are up 18.7% at $10.35 at the time of publication Tuesday.
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