News Formal

Meme stocks like GameStop are once again in the news, and here's why

  • 📰 FOX10Phoenix
  • ⏱ Reading Time:
  • 25 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 68%

Explainers News

News,Business,Personal Finance

It looks like 2021 all over again recently, as a 'meme stocks' like GameStop and AMC saw sudden and rather drastic share price increases. Here's what to know about meme stocks, and what's behind this latest rally.

Remember GameStop?Back in 2021, the retailer's stock rose from $18 to a high of $380 at one point. The stock has been rather quiet since then, with per-share prices at around the $10 to $11 mark before rising to $64.83 on the morning of May 14, according to Google Finance.So, what's driving this so-called 'meme stock' to rise once again? Here's what we know.The BBC described GameStop as an American retail business that sells games, consoles, and other electronics.

Prices were swinging so sharply after the opening bell Monday, that trading in the stock was halted nine times in just over an hour.Other meme stocks from the pandemic era are moving just as radically. AMC jumped nearly 31% Tuesday, and its trading was halted 18 times by early afternoon.The AP noted that this recent meme stock rally is not as big.On Monday, investors pumped a net $15.8 million into GameStop, along with $37.5 million into AMC, according to data from Vanda Research.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Roaring Kitty is back and so are meme stocks, GameStop and AMC surge like its 2021The Mid-Ohio Food Collective is on a mission to fight senior hunger this spring.
Source: 10TV - 🏆 560. / 51 Read more »

Roaring Kitty is back and so are meme stocks, GameStop and AMC surge like its 2021Seven Arizona barbecue restaurants made Yelp's Top 100 list with Eric's Family Barbecue taking the third-best spot.
Source: 12News - 🏆 586. / 51 Read more »

Roaring Kitty is back and so are meme stocks, GameStop and AMC surge like its 2021Kate Mote joined WFAA Midday to talk about this week's Women's Rodeo Championship in North Texas.
Source: wfaa - 🏆 543. / 51 Read more »

GameStop, AMC stocks see 100% swings as meme fever returnsGameStop (GME) and AMC Entertainment (AMC) are at it again on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »