After sweetest week since January, meme stocks end on slightly sour note

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GameStop and AMC tumbled Friday after showing signs of second major short squeeze in less than six months.

If there was a meme for meme stocks, this week’s choice would be “Kombucha girl,” the viral video of a woman trying the fermented tea drink and having a series of conflicting visceral reactions.

But for AMC, Friday’s 2.1% stumble barely put a dent in this week’s 112.7% rally even if the stock did briefly go over $35 a share early in the morning, its highest level since January 2017, according to Dow Jones data. In fact, the key metrics for both stocks are increasingly less fundamental than esoteric with the stock market’s answer to the Olsen twins appearing to move higher or lower on one phenomenon that make the clearest case ever for the simplistic view that meme stocks come down to “The Reddit Crowd vs. The Shorts.”

But on the opposite side of the equation are the perceived and clearly genuine enemies of the retail crowd: short sellers.

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up 1000% YTD ++ we are on the MOON mate 🌕🌗🌜

horrible

They did what they needed to this week. No massive sell off. Go get your BBQ on.

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