As an analyst with extensive experience in the stock market and meme stocks specifically, I believe that the recent surge in GameStop (GME) and AMC Entertainment (AMC) stocks is driven by a combination of factors. The successful IPO of Reddit may have provided some fuel, but the main catalyst appears to be the influence of influential investors like “The Roaring Kitty” on social media platforms such as Reddit’s WallStreetBets forum.
As a crypto investor, I’m observing an intriguing development on May 13, Monday. The stocks of AMC Entertainment (AMC) and GameStop (GME) are experiencing significant growth during this trading session. To be more precise, the prices of GME and AMC have jumped by a staggering 51% and 21%, respectively. This sudden price surge has piqued the interest of investors, leading to much speculation about the revival of these meme stocks.
Why Are GameStop & AMC Stocks Surging?
As a crypto investor, I’ve noticed some intriguing price movements in the stocks of Reddit and GameStop recently. While the successful IPO of Reddit has undoubtedly contributed to the rally, particularly in the case of GameStop, there is another significant factor at play. This factor has been fueling the strong momentum for both stocks on Monday.
A tweet from the account “The Roaring Kitty,” which is identified as belonging to Keith Gill, has become a possible trigger for the early market rise in GameStop (GME) stocks. Throughout last year, Gill was a prominent investor in GameStop and openly expressed his belief that the stock was underpriced on Reddit’s WallStreetBets platform.
As a researcher studying financial markets, I’ve observed an intriguing phenomenon in recent years: the meteoric rise of meme stocks like GameStop (GME) and AMC Entertainment (AMC). In 2020 and 2021, these stocks garnered extraordinary attention due to their association with online communities, most notably the WallStreetBets subreddit. This buzz was fueled in large part by the infectious enthusiasm of figures like WallStreetBets’ ringleader, u/deepfuckingvalue, and social media platforms.
As a crypto investor, I’ve noticed an intriguing turn of events in the stock market. The relentless buying power of retail investors has put immense pressure on hedge funds that had bet against GameStop (GME) and AMC Entertainment (AMC). This intense squeeze has led to a dramatic rise in the prices of both stocks. It’s an exciting time for those who believed in their potential!
Over the past month, GameStop’s shares have experienced substantial growth, increasing by over 50%. The recent reappearance of the Roaring Kitty account on Twitter, after a long absence of almost three years, has coincided with this surge in value. This occurrence has led some to ponder the possibility of a revival of meme stock craze.
GME & AMC Share Prices Today
As I pen down these words, the GameStop (GME) stock experienced an astounding surge of 51.09% on Monday, opening the market at an impressive $26.38. This represented a substantial gap up from the previous closing price, with an additional $8.92 value added to the GME stock. However, a downturn occurred on Friday, May 10, as the stock closed at a lower price of $17.46, representing a decline of 3.05%. During the meme stock phenomenon in early 2021, the GameStop share price reached an unprecedented high of $86.88.
Alternatively, the AMC stock showed remarkable growth, increasing by 21.31% to reach $3.53 in value. This represents a significant recovery from the previous day’s close of $2.91, at which point the price of an AMC share had dropped by 4.59%. Nevertheless, it’s important to note that the AMC stock is currently only 5% of its all-time high, which was a staggering $72.62.
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2024-05-13 16:48