Meme Stocks Gain As AMC Squeeze Trends On Twitter



© Reuters

By Dhirendra Tripathi

Investing.com – AMC Entertainment (NYSE:), GameStop (NYSE:) and Koss (NASDAQ:) all rose Monday amid indications that retail investors and the big institutional guys may be renewing their battle.

#AMCSqueeze is among the top Twitter trends on Monday, an indication that it may again be experiencing a short squeeze, sending the shares higher.

AMC and GameStop were both up around 6% while Koss was up 1% percent. If the session goes as it has so far for AMC, it would be the seventh consecutive day of gains for the stock.

Last week, AMC wrapped up raising $428 million in fresh equity. The company raised that money before commissions and fees at an average price of $9.94 per share.

AMC crossed $14 today earlier during the session, fired up on hopes that people will flock to its multiplex screens as movies are released in theaters after more than a year.

GameStop, the favorite of the retail investors last five months, may be trading 64% off its year’s high but it’s still some 127 times the 52-week low. Its efforts at reinventing itself into an online retailer is keeping some believers still glued.

Meme stocks have a devoted following that acquired cult status in January when some Reddit followers decided to take on the big hedge funds in the GameStop short squeeze. That unexpected coming together resulted in at least one hedge fund going bankrupt.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  S&P 500, Nasdaq Storm to Record on FAANG, Salesforce Buying Frenzy

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here