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GameStop and AMC surge evokes 2021 meme stocks saga

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Pro-Palestinian encampment at Dalhousie University - May 13, 2024 | SaltWire #news #halifax #protest - Shares of GameStop and AMC jumped nearly 40% each in premarket trading on Tuesday, and are on track to extend gains from a day earlier when a series of posts from"Roaring Kitty" rekindled a rally reminiscent of the meme stocks trading frenzy.

Since Sunday, Gill has shared a meme and more than 10 clips from movies including"X-Men Origins: Wolverine","The Avengers" and the 1993 Western"Tombstone". GameStop surged as much as 118% on Monday and closed at a two-year high, with its market cap surging nearly $4 billion to $9.32 billion. The euphoria also spread to micro-cap firms popular among short sellers, traders who hope to make money by betting on a stock's fall.

 

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