'Meme stocks' on the upswing again 🎢

6:10 PM August 8, 2022

GameStop and AMC shares are back on the rise! 📈📌

Shares of Gamestop (GME.US) and AMC Entertainment (AMC.US) today rebounded from the recent period of 'slow' trading, while Bed Bath Beyond (BBBY.US) shares continued the demand-driven rally started the previous week. Will the dynamic rebound result in a broader improvement in sentiment around the companies' listings and cause a wave of frenzied rallies once again?

  • AMC and Gamestop shares made a name for themselves in 2021 when they became the target of an orchestrated buying spree that saw institutional investors liquidate their short positions. The stocks were popular among retail investors. The large social media movement is again likely to bring a demand avalanche that previously caused share price increases of nearly 1000%;

  • Bed Bath&Beyond shares are gaining mightily today. A group of investors known as 'Apes' from the popular Reddit site have again taken as their goal the liquidation of short positions through an organized action of the so-called 'short squeeze'. The company's shares, according to an analysis by Benzinga Pro, were among the most shorted on the U.S. stock market, with nearly 46% of all shares available for trading in short positions. The liquidation of short positions caused a demand wave and a dynamic rebound in the share price. According to the Finder portal, the Bed Bath&Beyond company is currently the most discussed on Reddit. The company is continuing the rally from the previous week when its shares rose almost 30% between Thursday's and Friday's sessions despite the lack of significant news;

  • The Wall Street Bets community today became active again, causing a big move in the valuations of all so-called 'meme stocks'. The action is a sign of improving risk sentiment, and the market may be experiencing the so-called fear of missing out on so-called FOMO opportunities. All major indexes today continued their gains despite last Friday's strong NFP report, which will potentially prompt the Fed to make another high interest rate hike.

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Bath & Beyond (BBBY.US) chart, D1 interval. Retail investors began buying meme stocks en masse today, which lifted their prices high. Source: xStation 5

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