Yahoo Finance’s Julie Hyman, Myles Udland, and Brian Sozzi discuss stock on the move.
MYLES UDLAND: All three majors are higher right now. All of the action remains in those heavily shorted names. One name we're seeing under a bit of pressure this morning-- GameStop stock has already been halted for trade at least once during today's trading session. Right now, it's off about 30%.
But, Brian Sozzi, let's talk about a little levity within this situation. Popeyes, your friends over at QSR getting into the mix here. We like to see this kind of crossover promotion.
BRIAN SOZZI: Yeah, news you can use. And you've got to give a shout-out to Restaurant Brands CEO José Cil, long-time friend of the show. So opened my email box about 15 minutes ago, and they are-- Popeyes is launching a promo called "Tendies for All." Now, obviously, tendies is the word that these retail-- that these Reddit traders use to describe money or financial gains, which certainly fits well with chicken tenders. And that's what the promotion is-- you spend $5, and you get a free three-piece chicken tenders.
So I wouldn't be surprised if you see more promos like this out of the fast food space. It makes sense. But Restaurant Brands for the win, Julie.
JULIE HYMAN: I guess so. The question that we keep asking-- sorry to bring it away from levity-- once again, is, who's going to be caught holding the bag on all of this? And I come back--
BRIAN SOZZI: Bag of chicken.
JULIE HYMAN: --in my mind to something that-- sorry to be the plumber here. Something Steve Sosnick said keeps coming back into my mind, which is, this is a poor way to stick it to the man, he said. And that's because you've got "the man"-- Wall Street I guess-- on both sides of these trades, and so, inevitably, they're going to be winning. And some of those fellow retail traders that are the fellow Reddit warriors, they're inevitably going to be losing here. So I don't know that everyone's going to get what they wished for in this situation, except--
BRIAN SOZZI: Get those--
JULIE HYMAN: --maybe some--
BRIAN SOZZI: --tendies, Myles.
JULIE HYMAN: --chicken tenders.
MYLES UDLAND: What's that, Soz?
BRIAN SOZZI: Get those tendies.
MYLES UDLAND: Look, I think that's-- that's the only thing that matters, is that we're finally seeing a little cross-promotion here. People are getting creative with how to market a memed event. Don't worry about trading stocks. Worry about selling chicken sandwiches.