Alfi Inc shares set to fall from record highs, 'meme stock' Torchlight sinks

Alfi's stock was trading at around $14.65 per share by 5:26 a.m. ET after ending Tuesday's session at a record high of $16.29, and was again among the most heavily traded stocks before the bell. Some social media users and one portfolio manager on Tuesday cited a Benzinga.com report that Alfi planned to buy back stock as helping to fuel the rally. Shares of a group of heavily shorted companies including video game retailer GameStop Corp and cinema operator AMC Entertainment Holdings Inc have seen wild swings this year in a phenomenon dubbed the "meme stock" rally that has been driven by small-time traders on online discussion forums.



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