Meme stocks rise GameStop Co., Ltd. GME and AMC Entertainment Holdings AMC After his comeback and recent breakup with Roaring Kitty on social media, it looks like this run won’t last long.
what happened: Even if you take a quick look at Reddit’s WallStreetBets forum, it will take you a while to find posts talking about GameStop or AMC. Investors appear to have shifted their attention.
The most popular stocks on forums popular with individual traders are:
- NVIDIA Corporation NVDA, is scheduled to report first-quarter financial results after the market closes on Wednesday. Its report can influence the entire stock market as one of the top companies and growth stocks.
- tesla company TSLAIt’s a consistently trending stock, and its shareholders are voting to appoint a CEO ahead of its annual general meeting on June 13th. Elon Musk‘s 2018 $56 billion compensation package will be reauthorized or rejected.
- Nikola Co., Ltd. N.K.L.A.shares are rising after announcing an order for 100 hydrogen fuel cell electric vehicle trucks on Tuesday.
Related Link: Exclusive: GameStop, AMC buzz ‘might not last long,’ CEO of company behind MEME ETF tells Benzinga
Stocks that frequently appear in posts that are upvoted by the community include:
- his and her health Hims: The health products company received several positive mentions from traders who recommended the stock, sending its stock price soaring during Monday trading. It also introduced new weight loss drug products that cost less than other popular options on the market.
- tandem diabetes care TNDM It has also received several positive mentions on forums, including posts recommending the stock as an acquisition candidate.
Why is it important?: GameStop, AMC, and other meme stocks made headlines in 2021. There may have been more mentions of the stock in last week’s forum, and investors have already turned their attention elsewhere.
Meme stock prices were very volatile last week. Thanks for coming back Roaring Kitty With X.
The central figure in the 2021 short squeeze movement shared a meme and several video clips on his X account on Friday, May 17, before posting a cryptic breakup clip from the movie “ET.”
The end of Roaring Kitty’s posts on X may be one factor influencing this short-term move. Another item is offerings, with AMC announcing a debt-for-equity swap and GameStop filing for an on-market offering.
Such a move could dilute the value of existing shareholders and undermine public interest in the stock.
AMC also warned that its current second-quarter box office performance could be worrying investors.
At the same time as the store launch, GameStop announced preliminary first-quarter financial results, which were lower than analysts expected.
GameStop stock closed at $17.46 on Friday, May 10th and opened at $26.34 on Monday, May 13th. The stock is currently trading at $21.69, and most investors who bought after Roaring Kitty’s posts on Sunday and Monday will be sitting with losses. position.
Despite the current losses, investors who bought GameStop stock a month ago or at the beginning of the year would see gains of 113% and 24%, respectively, as the stock had already started rising before Roaring Kitty’s comeback. become.
price actionn: AMC stock is currently trading at $4.94 per share, up 2.3%. It closed at $2.91 on Friday, May 10th, and opened at $3.52 on Monday, May 13th.
AMC stock is down 89% from last year and 21% year-to-date in 2024. This means that early last week’s entry could be one of the limited windows to profit from the stock.
Read next: AMC stock rises on Monday: Can Billie Eilish’s concert film’s ‘huge success’ make up for weak second-quarter box office sales?
