Meme Stocks Post Best Day Since June as GameStop, AMC Surge

Bloomberg2021-08-25

A basket of so-called meme stocks is surging, fueled by afternoon rallies for GameStop Corp.and AMC Entertainment Holdings Inc. The group of 37 retail-trader favorites tracked by Bloomberg soared 10% ...

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Comments

Sonson89
2021-08-25
Sonson89
?
Alykrunch
2021-08-25
Alykrunch
That’s great!
Shixuan
2021-08-25
Shixuan
?
Momosoar
2021-08-25
Momosoar
Time to buy?
Shishir
2021-08-25
Shishir
Soo good
banditmojo
2021-08-25
banditmojo
Please like

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GameStop and AMC, two of the most closely-followed meme stocks, surged 28% and 20% respectively.\nThe afternoon rally caught most analysts by surprise as investors await insights from Federal Reserve Chairman Jerome Powell’s address from Jackson Hole later this week.\n“I was expecting some calm as we await Jackson Hole, but it looks like ‘Meme Stock Mania’ sees an opportunity here,” said Ed Moya, senior market analyst at Oanda Corp. “It seems this is retail jumping back in on their favorite trades after last Friday’s options expiration.”\n\nTrading volume also jumped, with AMC surpassing 200 million shares traded for the first time since mid-June. With GameStop, roughly 14 million shares had changed hands, more than ten-times the amount typically traded over the past five sessions.\nThe dizzying rally marked the latest turn for a group of shares that have captivated investors throughout 2021. 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