Meme stock traders eyeing NEGG (Newegg) as short squeeze play today

Shares of Newegg Commerce Inc (NEGG) are trading 6% higher at a price of $4.37 at the time of this writing. So far the Consumer Discretionary sector has been having a cheery day, and the share price of the company is flying high above it's peers.

Meme stock traders are currently eyeing NEGG as a juicy short squeeze target.

Another likely component for the price move is traders taking positions in preparation for the upcoming earnings call on August 30.

Newegg Commerce Inc has been trading between a 52-week high of $22.2 and a 52-week low of $3.15. The stock has a market cap of $1.61 Billion.

Newegg Commerce, Inc., headquartered in the City of Industry, California, is a leading e-commerce company offering direct sales and an online marketplace platform for IT computer components, consumer electronics, entertainment, smart home and gaming products and provides certain third-party logistics services globally.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

ahminus - 7 upvotes - source
Needs moar NEGG.

andrea46344 - 2 upvotes - source
NEGG let’s go 🚀

WildWestCollectibles - 1 upvotes - source
When is the next NEGG ER?

Gloomy_Elevator_1905 - 1 upvotes - source
$NEGG LOOKING FOR THAT NEXT LEVEL POWER TO THE PLAYER SQUEEZE ACTION

lebronsblueprint - 1 upvotes - source
$NEGG

SweeneyR0bb - 1 upvotes - source
NEGG baby!

SweeneyR0bb - 1 upvotes - source
Told y’all NEGG.

Gloomy_Elevator_1905 - 1 upvotes - source
$NEGG all the way

concerned_mess - 0 upvotes - source
I actually like the NEGG play too. I think I’ll look for an entry tomorrow. What’s your timeline on it?