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$213 0.6  0.3%

Last Trade - 06/05/21

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £76.02bn
Enterprise Value £79.02bn
Revenue £67.30bn
Position in Universe 121st / 6849

GameStop soars 32%, leads meme stocks higher with Koss, AMC surging too

Thu 25th March, 2021 4:33pm
By Sinéad Carew
    March 25 (Reuters) - Shares in GameStop  GME.N  and other
so-called meme stocks popular among members of Reddit's
WallStreetBets forum jumped on Thursday as investors bought
shares whose prices tumbled in the previous session. 
    Shares in video-game retailer GameStop were last up 32.1% at
$159.02 with brisk trading volume, erasing much of the previous
session's 33.8% decline after the company said it was evaluating
the possibility of a share sale.  urn:newsml:reuters.com:*:nL4N2LM2SD 
    Volatility has spiked this year in GameStop shares, which
have risen from just $18.84 at the end of 2020 and reached a
record high of $483 in late January before falling sharply and
then kicking off another rally in late February.
     The company has benefited from a push by retail investors
such as Reddit members to drive up prices of heavily shorted
stocks.
    Investors have also been eyeing efforts by billionaire
investor and Chewy Inc  CHWY.N  co-founder Ryan Cohen, who is on
GameStop's board, to transform the retailer into an e-commerce
firm that can take on big-box store rivals such as Target Corp
 TGT.N  and Walmart Inc  WMT.N . 
    Shares in headphone maker Koss Corp  KOSS.O  were up 30.5%
at $21.44 with volume surpassing twice the 10-day moving
average. The stock had fallen almost 22% on Wednesday. 
    Cinema operator AMC Entertainment Holdings Inc  AMC.N  were
up 15.9% at $10.45 after falling 36% in the last four sessions
with Disney's announcement on March 23 that it was delaying the
release of Marvel Studios film "Black Widow" by two months until
July and planning a simultaneous  theaters and Disney+ streaming
release.  urn:newsml:reuters.com:*:nL1N2LL2HZ

 (Reporting By Sinéad Carew; Editing by Alden Bentley and David
Gregorio)
 ((sinead.carew@thomsonreuters.com; +1 (646) 223 6186; Reuters
Messaging: sinead.carew.thomsonreuters.com@reuters.net))
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