The return of the ‘Meme-Stock’ mania!
Shares of Bed Bath & Beyond, AMC Entertainment Holdings and GameStop skyrocketed today, (Monday) as individual investors flocked back to the stocks!
Bed Bath & Beyond soared 38% in recent trading, while AMC surged 14%. GameStop climbed 12%.
*Tweet on meme stock recent surge
The return of ‘Meme-Stock’ mania!
Shares of Bed Bath & Beyond, AMC and GameStop skyrocketed, as individual investors flocked back to the stocksBed Bath & Beyond soared 38% in recent trading, while AMC surged 14%. GameStop climbed 12%
*chart of meme stock last year YTD returns pic.twitter.com/S9MDNahF0h— The_Journalbiz (@the_journalbiz) August 8, 2022
The rally is reminiscent of last year’s meme-stock mania( chart in tweet-data by Morning star direct)
Last year, the retail investors chased higher shares of companies that Wall Street had long left for dead.
Their enthusiasm helped cement the group’s dominance in financial markets last year, and helped turn around the finances of troubled companies.
The most recent bout of excitement surrounding meme stocks was largely kickstarted last week, after AMC said it plans to issue a dividend to all common shareholders in the form of preferred shares.
AMC applied to list the preferred equity units on the New York Stock Exchange under the symbol “APE,” a nickname for particularly enthusiastic online traders.
- AMC shares finished 19% Friday after the announcement.
Excitement surrounding the companies continued to percolate in recent days.
On Monday morning,
Bed Bath & Beyond, AMC and GameStop were the three most-mentioned stocks on Reddit’s WallStreetBets forum, according to TopStonks, which tracks stocks mentioned on Reddit and other sites.
Recently,
short interest in both Bed Bath & Beyond and GameStop has moved higher, helping to kickstart some individual investors’ interest in meme stocks again. Last year, high levels of short interest, or bearish bets, against stocks including GameStop helped kickstart the first meme-stock frenzy, as individual investors tried to push the shares higher and punish professionals who had bet against the companies.
meme stock share on the move today :
BED BATH & BEYOND INC.BBBY(U.S.: NASDAQ)
$11.25 USD3.0937.86%▲
AMC ENTERTAINMENT HOLDINGS INC. CL AAMC(U.S.: NYSE)
$25.56 USD3.3815.25%▲
GAMESTOP CORP. CL AGME(U.S.: NYSE)
$44.63 USD4.6111.52%▲
