Business

Meme Stock Trader Embraces Avaya Despite Wall Street Fears


Individual investors are backing a new underdog, Avaya Holdings pumped the software company’s depressed stock up about 200% over the past month and confused Wall Street experts.

Avaya’s fans include day traders who congregate on the Reddit and Twitter forums, and a 35-year-old software entrepreneur has taken a 15% stake. They’re up against a bunch of big fund managers like Apollo Global Management and Ares . Manager that can be beneficial if the company seeks bankruptcy court protection.



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