A woman walks past the GameStop store at the Susquehanna Valley Mall in Selinsgrove, Pennsylvania on January 27, 2021.
Photo by Paul Weaver/SOPA Images/LightRocket via Getty Images
Stoppage of play And AMC We’re seeing some big buying from mom-and-pop investors, but those purchases pale in comparison to the explosion in meme stocks seen three years ago.
The video game seller and movie theater chain recorded more than $15.8 million and $37.5 million, respectively, in net inflows from retail traders on Monday, according to data from Vanda Research. But that figure is dwarfed by peak daily inflows of around $87.5 million for GameStop and $170 million for AMC seen in late January 2021.
Both men posted monster gains of more than 70% each on Monday following a series of cryptic posts on social networking site stock marketer who took Wall Street by storm three years ago. . These are the first posts on X or Reddit from the user, whose legal name is Keith Gill, since 2021.
But expectations of a broader resurgence in the meme stock craze were hit by cold water on Tuesday, as the pair saw more muted — though still significant — rallies. AMC and GameStop, along with other names associated with the 2021 blitz, including Blackberry And Kosswere far from the highs of Tuesday afternoon’s session.
Still, GameStop and AMC on Tuesday were up more than 55% and 40%, respectively, as of 2:15 p.m. ET. Both are up more than 150% since the start of the week.
GameStop and AMC this week
These rebounds have occurred despite concerns among investment professionals that these stocks are advancing without material catalysts. This resurgence of activity around this group of stocks has already caused problems for investors shorting them.
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