Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Meme Stocks GameStop, Koss, AMC Notch Double-Digit Gains, Again

Published 03/12/2021, 11:12 AM
Updated 03/12/2021, 11:14 AM
© Reuters

By Dhirendra Tripathi

Investing.com – Meme stocks are surging one more time.

In Friday’s session so far, GameStop (NYSE:GME), the leader of the pack, rose 10% while Koss (NASDAQ:KOSS) was up 24%. AMC Entertainment (NYSE:AMC) shares also traded with 10% gains. This is even as most broader indices were weak on concerns over rising bond yields and the stimulus getting tapered.

Meme stocks are popular on social media platforms and have come to acquire a loyal following among young investors, who are out to beat the large established institutions.

While the surge of meme stocks created riches for some, there are fears they could end up hurting investors caught on the wrong side of the trade. Market experts believe that it’s just a frenzy driving them and not fundamentals.

GameStop now has a market cap of $19.52 billion. Several pundits have said they believe the valuation isn’t justified.  

Bank of America (NYSE:BAC) remains negative on GameStop, notwithstanding the company’s decision to go for a digital makeover, according to Seeking Alpha.

 

 

Latest comments

just purchased some sweet game rack displays from my local gamestop store liquidation sale. my kids love it. they can organize their games and play pretend store based on a historical business model.
lmao
that's awesome
that's awesome
🦍🚀🌙
Even when you call GME or AMC costumer services, they say Please hold so why not ! 🐵
Yeah, they have good costumes.
Yeah, they have good costumes.
Hold the line 🚀🦍
Article title should be: "Meme Hedge Funds double-digit loss, again."
Melvin and Citadel will be called Meme HFs after this.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.