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


FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) -Shares of software firm Alfi Inc fell 10% in early deals on Wednesday after more than doubling in value in the previous session, in a move evocative of the so-called "meme stock" frenzy that has gripped equity markets this year.

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.

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