AMC, Gamestop: Meme stocks roar back, fueled by Reddit-inspired traders
Ethan Wolff-Mann, 28 May 2021
In January 2021, the rise of retail investing and the subreddit r/WallStreetBets sparked a broader speculative movement in a few stocks that ended up disrupting trading at brokerages and culminating in a Congressional hearing.
And after a relatively quiet few months, the so-called meme stocks are back in a big way.
The movement’s mascot, GameStop (GME), ended the week up 23.6%. (Analysts from Vanda Research said that this was likely due to institutional involvement rather than a big retail push.) And the new meme stock leader is AMC (AMC), which has taken over the narrative with an enormous 108.9% gain for the week. Continue reading “Article: AMC, Gamestop: Meme stocks roar back, fueled by Reddit-inspired traders”
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