Shares in action camera maker GoPro (GPRO) surged more than 36% on Monday, with the stock up a further 3% in pre-market trading on Tuesday.
The stock recently became an addition to a new batch of meme stocks in a resurgence of the trend. Online real estate service Opendoor Technologies (OPEN), doughnut chain Krispy Kreme (DNUT) and department store Kohl's (KSS) were also part of this latest class of meme stocks.
Retail investors piling into the stock have helped drive a 51% gain in GoPro shares year-to-date, though the stock did dip following the release of the company's second quarter results earlier in August.
GoPro posted an 18% fall in revenue year-on-year to $153m and a net loss of $12m, though this was lower than the $36m net loss the company reported for the same quarter last year.
Shares in Nissan (7201.T) slumped more than 6% on Tuesday, following reports that the pension trust of Germany's Mercedes-Benz (MBG.DE) had sold its entire shareholding in the Japanese carmaker.
Reuters reported that the pension trust had sold its stake for 47.83 billion yen (US$320m), citing a source with direct knowledge of the matter.
Spokespeople for Mercedes-Benz and Nissan had not responded to Yahoo Finance UK's request for comment at the time of writing.
Shares in cannabis producer Tilray Brands (TLRY) jumped nearly 21% on Monday, and were up a further 5% in pre-market trading on Tuesday.
The rally comes after analysts at Jefferies, which has a “buy” rating on Tilray, lifted their price target on the stock from $1.50 to $2 per share, noting improving sentiment towards cannabis reclassification.
Unlimited CEO and chief investment officer Bob Elliott told Yahoo Finance on Monday: “I think we're in a pretty important transition here in terms of cannabis being normalised essentially … after really years and years of being commercially viable, but running under the radar.
“And so, if you could start to change the economics around even the payment infrastructure, the ability to access basic services, all the different things that … a lot of these companies have been locked out on and Tilray … they frame themselves as the Coca-Cola of cannabis.”
He added that Tilray are “probably the front runners because they've got the scale globally to really take advantage of an opening up of the market, in a market that otherwise is highly, highly fractured.”
On the London market, distribution and outsourcing company Bunzl (BNZL.L) was the biggest riser on the FTSE 100 (^FTSE) on Tuesday morning, with shares up more than 5%.
