Meme stocks GameStop, AMC hit over 4-month highs

micromobility.com

08/08/2022 17:33

** Shares of meme stocks GameStop  GME.N  and AMC
Entertainment  AMC.N  jump 11.5% and 13.8% as retail investors
bought the stock
    ** GME set to extend eight-session winning streak 
    ** AMC rises for the sixth straight session to hit at a more
than four-month high of $27.50
    ** About 23.6% of GME's free float is shorted, while 18.7%
of AMC's free float is under short position, per Ortex data
    ** "Meme stocks are once again surging, a sure-fire sign
that risk appetite is just getting a little bit frothy," said
Chris Beauchamp, chief market analyst at online trading
platform IG
    ** AMC, GME and Bed Bath & Beyond Inc  BBBY.O  were among
the five most traded stocks on retail brokerage Fidelity's
platform, alongside Tesla  TSLA.O  and Nvidia  NVDA.O 
    ** Other stocks surging without clear news catalysts:
E-scooter maker Helbiz Inc  HLBZ.O  climbs 77.2%, lock maker
Intelligent Living Application  ILAG.O  adds 69.2%, used-vehicle
marketplace CarLotz Inc  LOTZ.O  up 8.8%, hearing aid maker
Eargo  EAR.O  rises 14.6%  urn:newsml:reuters.com:*:nL4N2ZK2KI
    ** A surge in retail interest also crushed bearish investors
at BBBY  urn:newsml:reuters.com:*:nL4N2ZK30X
    ** Including session gains, AMC down 4% this year, while GME
is up ~21%

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))