GameStop investors rush back in

Source: FactSet;  Graphics: Axios Visuals
Source: FactSet; Graphics: Axios Visuals

GameStop and AMC meme stocks rose Thursday. Shares of the companies closed 10% and 8% higher respectively, contrasting with the relatively flat trading sessions of the day.

  • At one point during the day, GameStop shares were up more than 30% and trading was halted several times due to volatility, while AMC shares gained 20%.

What they say: “Chances are, most of these people who bought these crappy stocks last year… have lost a lot more than they would have in the broader market, [and they’re] just looking for a gamble, a lottery ticket to get it all back,” Randy Frederick, director of trading and derivatives at the Schwab Center for Financial Research, told Axios.

The big picture: The moves are also part of the new normal – wild intraday market swings reflecting growing investor uncertainty about where the economy is headed.

Leave a Comment