'Meme' stock GameStop surges on report of entry into NFT, crypto markets

KOSS

06/01/2022 23:03

** Shares of videogame retailer  GME.N  rise 26.7% to $166
in trading after the bell, triggering an uptick in other "meme"
stocks
    ** GME is launching a division to develop a marketplace for
nonfungible tokens (NFTs) and establish cryptocurrency
partnerships, according to a source familiar with the matter
 urn:newsml:reuters.com:*:nL4N2TM3BM
    ** Shares of AMC Entertainment  AMC.N  shoot up 11.4% to
$25.02 aftermarket
     ** Other notable "meme" stocks Clover Health  CLOV.O , Koss
Corp  KOSS.O  and BlackBerry  BB.N  also up between 4% and 8%
    ** GME shares have slumped for the past six weeks straight,
while AMC shares have dropped five out of the past six weeks
    ** Due to retail trading frenzy at the beginning of 2021
with GME at its center, shares of the company surged over 711%
last year

 (Reporting by Chavi Mehta in Bengaluru)
 ((Chavi.Mehta@thomsonreuters.com;))