CEI’s Revenge? Oil Prices Skyrocketing

What’s the #1 story in the stock market right now?

It’s oil prices skyrocketing over $81 and hitting 7-year highs

What does this mean for meme stocks?

Well, it’s all about our friend Camber Energy (CEI), which is the most talked about meme stock on planet Earth. (and possible the galaxy)

Now, let’s not get stupid and pretend CEI is the new Apple (AAPL) or Tesla (TSLA).

But it’s a freaking bucking bronco that went from 33 cents to $4.85 to 86 cents to about $1.80 right now.

CEI is very heavily shorted and people are talking about it A LOT across the Wall Street Bets universe.

Combine that with rising oil prices and we could see another short squeeze.

Just be VERY careful because this stock is insane. It makes AMC look like GE. Yes, you can win big… but you can lose big too. So learn to cut your losses if it goes against you.

What else is happening in the meme stock universe?

The new James Bond was okay at the box office – AMC longs would have wanted a blockbuster.

Morgan Stanley initiated coverage on SoFi (SOFI) with an Overweight rating and a $25 price target, and the stock’s up this morning. Just remember the least earnings report sucked.

Affirm Holdings (AFRM), which we added to our official list of meme stocks, is getting HEAVY attention from Wall Street. Could be a momentum favorite if the market stays strong.

And keep in mind earnings season kicks off Wednesday with JP Morgan (JPM) and the other banks reporting. That should give us some new fireworks!

Good luck out there gang!