In 2009, amidst the stunning backdrop of the French Alps, […]
Meme Stock Birthday Update ($GME, $AMC)
Meme stock mania first hit the market roughly 1 year ago. How are things looking for the two biggest meme stocks? GameStop is Down but Not Out GameStop ($GME) was the stock that started it all.
A concerted effort to squeeze the heavily shorted video game retailer resulted in one of the most improbable runs in market history.
GME shares gained nearly +2500% (+$35B in market cap) in the span of a month.
Underlying chatter soared when the story reached the mainstream.
Although GME mentions have never recaptured the highs seen last year, the stock still averages >2000 mentions per day. The Cult of AMC AMC shares GME’s distinction as one of the first widely recognized “meme stonks”.
Although it garnered less media attention during the initial squeeze, it has since maintained a higher degree of investor interest.
AMC has fully embraced its meme status, with stunts like awarding retail shareholders free popcorn and NFTs.
Don’t count this stonk (or its devoted following) out just yet.