Stocks

Meme Stocks GameStop, Koss, AMC Notch Double-Digit Gains, Again By Investing.com

© Reuters

By Dhirendra Tripathi

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

In Friday’s session so far, GameStop (NYSE:), the leader of the pack, rose 10% while Koss (NASDAQ:) was up 24%. AMC Entertainment (NYSE:) 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:) remains negative on GameStop, notwithstanding the company’s decision to go for a digital makeover, according to Seeking Alpha.

 

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button