May 21, 2024

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Meme Stocks Back in Action: GME and AMC Soar!

2 min read
Meme stocks are back! GME and AMC surge in pre-market trading, fueled by "Roaring Kitty's" return and renewed retail investor interest. Is this a short squeeze or the start of a new meme stock rally?
Meme Stocks

Meme Stocks Back in Action: GME and AMC Soar!

Hold on to your hats, meme stock enthusiasts! The crazed trading frenzy that captivated retail investors in early 2021 seems to be making a comeback. Two of the most notorious meme stocks, GameStop (GME) and AMC Entertainment (AMC), roared back to life today with explosive gains.

GME Takes the Lead:

GameStop stock skyrocketed a staggering 110% during pre-market trading, triggering volatility halts that paused trading multiple times. This surge comes after the surprise reappearance of a key figure in the original meme stock saga – the anonymous Reddit user known as “Roaring Kitty,” whose bullish posts on GME were credited with fueling the initial frenzy.

AMC Joins the Party:

AMC wasn’t left behind. The movie theater chain’s stock price also jumped significantly, closing up over 60% for the day. This rally comes amidst continued concerns about the company’s financial health, but it appears that retail investor sentiment has shifted once again.

What’s Driving the Rally?

The exact reasons behind this resurgence are still up for debate. Some experts point to the return of “Roaring Kitty” as a catalyst, while others suggest broader market forces or simply a renewed wave of retail investor interest in meme stocks.

Is This the Second Coming of the Meme Stock Frenzy?

Only time will tell if this is a short-lived blip or the start of a new chapter for meme stocks. There’s no doubt that the volatility associated with these stocks makes them risky investments. However, for those who enjoy the thrill of the ride, GME and AMC’s resurgence is certainly a noteworthy development.

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