Meme stocks back in vogue as GameStop rallies

KOSS

23/03/2022 12:11

** Meme stocks AMC Entertainment  AMC.N  and Koss Corp
 KOSS.O  climb 6.7% and 11.8%, respectively, tracking a surge in
the shares of video-game retailer GameStop  GME.N 
    ** GME shares were up 13% premarket after Chairman Ryan
Cohen on Tuesday disclosed that his investment company bought
100,000 shares. Shares had rallied about 30% for no apparent
news on Tuesday  urn:newsml:reuters.com:*:nL2N2VP2QL  urn:newsml:reuters.com:*:nL3N2VP4F7
    ** GME and AMC were the top two most trending tickers on
investor-focused site stocktwits.com on Wednesday
    ** The two stocks were at the heart of the 2021 meme stocks
saga, when retail investors coordinated on online message boards
to fuel stunning rallies that cost short-sellers billions of
dollars
    **  Enthusiasm around "meme stocks" has eased for young
investors, with Gen Z's attention shifting to companies in areas
like electric vehicles and the "metaverse," according to a
report released in January
    ** Other retail favorites Bed Bath & Beyond  BBBY.O ,
Blackberry  BB.N  and Sundial Growers  SNDL.O  up between 2.8%
and 7.4% premarket on Wednesday
    ** GME, AMC have jumped 42% and 18% respectively, following
the hawkish U.S. Fed meeting on March 16 
    

 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))