ToplineMeme stock mania picked up where it left off Monday, with shares of retail investor favorites AMC and GameStop exploding to their highest levels of 2024 based almost entirely on social media hype.AMC and GameStop shares are skyrocketing this week like it's 2021.SOPA Images/LightRocket via Getty Images Key FactsGameStop’s stock skyrocketed as much as 112% and AMC’s stock soared up to 129% shortly after market open, building on both stocks’ roughly 75% gains during Monday trading. Shares of brick-and- ...

UPDATE—May 14, 2024: This article has been updated to include share price information from early trading Tuesday.Key TakeawaysPandemic-era meme stocks GameStop and AMC Entertainment soared again early Tuesday after both gained more than 70% on Monday, potentially triggering a short squeeze where investors rush to cover short positions. Monday's meme stock rally caused losses nearing $1 billion for GameStop short sellers, according to data from S3 Partners.GameStop shares may encounter selling near a zone o ...

Although all attention has gone to GameStop (NYSE: GME) stock and its rapid surge, another meme stock has posted even more significant daily gains above 78% – AMC Entertainment (NYSE: AMC).Its surge has been attributed to a market-wide surge in meme stocks, with gains of 68.59% extending into the pre-market and moving AMC share price above the $9 threshold.AMC stock 30-day price chart. Source: FinboldWhether this rally will gain the strength of the meme frenzy back in 2021 remains to be seen in the upcoming ...

AMC Entertainment raised about $250 million of new equity capital on Monday during the revived meme stock craze triggered by the return of "Roaring Kitty."On Monday, the movie theater operator sold 72.5 million shares in an at-the-market equity offering. AMC sold those shares at an average price of $3.45 per share before commissions and fees.AMC shares more than doubled in premarket trading Tuesday following the stock sale.The average selling price is at the lower range of Monday's wild trading where AMC mo ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

A GameStop location on 6th Avenue in New York on March 23, 2021.Shares of GameStop and AMC jumped around 40% in premarket trading on Tuesday, on track to extend gains after "Roaring Kitty," the man at the center of the meme stock craze, posted online for the first time in roughly three years.Shares of video game retailer GameStop traded 40% higher at 4:50 a.m. E.T., while movie exhibition company AMC rose over 38%.The market moves follow dramatic gains for the stocks at the start of the trading week. GameSt ...

Key TakeawaysPandemic-era meme stocks GameStop and AMC Entertainment both surged more than 70% on Monday, potentially triggering a short squeeze where investors rush to cover short positions. Monday's meme stock rally caused losses nearing $1 billion for GameStop short sellers, according to data from S3 Partners.GameStop shares may encounter selling near a zone of resistance from prior price action between $37.50 and $63.50.AMC Entertainment shares find a confluence of resistance around $13 from the 50-day ...

Shares of GameStop and AMC Entertainment exploded Monday, up close to 80% and 50%, respectively, as Roaring Kitty, aka Keith Gill, the trader and Reddit celebrity who sparked the so-called meme stock revolution on Wall Street starting in early 2021, posted on X (formerly Twitter) for the first time in almost three years. Gill, a former marketer for Massachusetts Mutual Life Insurance, got the big screen treatment in Dumb Money, where he was played by Paul Dano. An investment advisor working at home during ...

Murmurs of a potential hard economic landing are resurfacing after a marked downturn in U.S. GDP during the first-quarter (Q1).  The U.S. economy slowed sharply in Q1, growing at just 1.6%, lagging significantly behind the 2.5% estimate. Moreover, a soft jobs report compounds those concerns further. Hence, it’s probably the right time to consider consumer discretionary stocks to sell.Another trend we’ve seen recently is that consumers are opting for less expensive generic products over high-end brands. Acco ...