Radar

Wednesday

Rise

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<p class="has-drop-cap">Two of the most popular meme stocks, GameStop (NYSE: GME) and AMC (NYSE: AMC), staged a small comeback this week, both seeing sharp gains propelled by the strong speculative enthusiasm of retail traders. GameStop hit an intraday high of $17.56 on Wednesday as individual investors drove net volume to the highest level since early August.&nbsp;</p>
<h3 id="meme-stock-kings-return-to-retail-investors-radar">Meme Stock Kings Return to Retail Investors’ Radar</h3>
<p>Once-king of the meme stocks, GameStop saw its shares soar more than 13.3% during the Wednesday trading session amid a resurgence in interest among retail traders for speculative bets.&nbsp;</p>
<p>The stock opened at $15.49 and jumped to an intraday high of $17.56 but gave away some of its gains to close at $16.23. GameStop, which recently <a href="https://tokenist.com/gamestop-announces-ryan-cohen-as-new-ceo-stock-soars-7-premarket/" rel="noopener noreferrer nofollow" class="deco-link">appointed Ryan Cohen as its new CEO</a>, was among the most actively traded ones on the New York Stock Exchange in the past two days. Individual investors bought $1.92 million worth of GME shares on a net basis on Tuesday, the highest since August 6, according to Vanda Research.&nbsp;</p>
<p>The unexpected increase in demand comes amid strong optimism in the broader market, suggesting that the ongoing rally is overstretched, said Swissquote Bank’s Ipek Ozdareskaya.&nbsp;</p>
<p>AMC’s recent performance reflected an increased appetite for meme stocks as well. The cinema operator’s shares rallied over 7% on Wednesday, closing at $7.17 apiece. Roughly 32.5 million AMC shares changed hands on the day, marking the highest volume since November 9.&nbsp;The cinema operator has recently sold<a href="https://tokenist.com/amc-up-in-premarket-after-raising-325-5m-by-selling-40m-shares/" rel="noopener noreferrer nofollow" class="deco-link"> its shares</a> in equity offerings to boost its balance sheet and cash reserves.</p>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p>
 </div>
</div>
<h3 id="the-2021-meme-stock-craze">The 2021 Meme Stock Craze</h3>
<p>GameStop and AMC were among the most discussed stocks on Wednesday on the social media site StockTwits.com.&nbsp;</p>
<p>The two companies were also the focus of the so-called ‘<a aria-label="meme stock craze (opens in a new tab)" href="https://www.nbcnews.com/business/business-news/gamestop-reddit-explainer-what-s-happening-stock-market-n1255922" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">meme stock craze</a>’ at the beginning of 2021. At the time, the market witnessed a surge in unconventional and highly volatile trading activity primarily driven by online communities, such as Reddit’s WallStreetBets.&nbsp;</p>
<p>Amateur investors, often called retail traders, collaborated to invest in certain stocks, defying conventional market norms collectively. GME <a href="https://tokenist.com/battling-a-gamestop-reddit-army-short-sellers-just-lost-1-6-billion/" rel="noopener noreferrer nofollow" class="deco-link">emerged as a focal point</a> of this craze, experiencing astronomical price growth alongside stocks like AMC and BlackBerry.&nbsp;</p>
<p>These stocks lost their unprecedented gains in the following months as there was seemingly no fundamental strength to support such high prices. Things did not change much this year as GME and AMC continue to be extremely speculative stocks driven predominantly by retail traders.&nbsp;</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em><strong>Do you think any of the meme stocks are actually worth investing in? If so, which ones? Let us know in the comments below.&nbsp;</strong></em></p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/meme-stocks-return-to-the-limelight-as-gme-amc-shares-rise/">Meme Stocks Return to the Limelight as GME, AMC Shares Rise</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Meme Stocks Return to the Limelight as GME, AMC Shares Rise

목차

Tokenist

2023년 11월 30일에 게재된 다른 기사

Trulioo Partners With Public for Its UK Launch

Hong Kong Securities Body Proposes New ICO Portal

SEC Commissioner Hester Peirce calls for urgent reform in the crypto sector

Royal Bank of Canada (RY) Reports Better than Expected EPS of C$2.78 in Q4

Dogecoin Founder Issues Critical AI Warning to Community

Pando Asset Throws Hat in the Ring as 13th Player in Bitcoin ETF Race

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!