NEW YORK (Reuters) -More than a year after retail investors, aided by social media, forced an epic squeeze of a handful of heavily shorted stocks, a f...
“That provides an opportunity for these investors to try to create a short squeeze,” Ghriskey added. GameStop and AMC were the top two most trending stocks on the retail investor-focused stocktwits.com on Wednesday. GameStop Corp surged 14.5% on Wednesday and AMC Entertainment Holdings ended the session up 13.6%.
GameStop stock can take investors on a wild ride. Justin Sullivan/Getty Images. Just when meme stocks seemed down for the count, Chewy co-founder Ryan Cohen ...
RC Ventures now holds 9.1 million shares for an 11.9%... Just when meme stocks seemed down for the count, Chewy co-founder Ryan Cohen stepped in and bought 100,000 shares of GameStop on Tuesday. The decision not only helped spark a rally—it also says a lot about how the GameStop chairman views the firm’s turnaround prospects. This copy is for your personal, non-commercial use only.
GameStop Corp. rallied on Wednesday after Chairman Ryan Cohen bought 100000 shares in the beleaguered video game retailer, boosting his stake to 11.9%.
Cohen, who founded the pet-supply startup Chewy Inc., is a major investor and activist. GameStop Corp. rallied on Wednesday after Chairman Ryan Cohen bought 100,000 shares in the beleaguered video game retailer, boosting his stake to 11.9%.
Is it January 2021 all over again for GameStop investors? One look at the retailer's stock ticker and you might think so. See: From Crypto to Stocks, ...
In January and February 2021, the stock climbed 1700% in one week, largely thanks to the efforts of a group of Redditors on the subgroup r/WallStreetBets. But is it the start of something much bigger? The fundamentals, however, still aren’t great. TheStreet attributed “inflation, supply chain disruptions and inventory management” to the decline, although the GameStop management team offered no explanations. However, the gross margin dropped from 21.1% in 2020 to 16.8% for Q4 2022. TheStreet.com pointed out that it gained “an astounding 55%-plus in only six trading sessions.”
GameStop shares skyrocketed as much as 20% Wednesday, after climbing more than 30% on Tuesday.
Last January, Reddit traders famously declared GameStop their meme stock of choice as they bought up Wall Street's most heavily shorted companies. The gains piled on after Cohen disclosed in a filing his investment firm RC Ventures purchased 100,000 GameStop shares on Tuesday for a combined $10.2 million, at prices ranging from $96.81 to $108.82. GameStop shares skyrocketed as much as 20% Wednesday after Chairman Ryan Cohen, the cofounder of online pets-supplies store Chewy, disclosed he invested another $10 million in the brick-and-mortar game-seller on Tuesday—pushing shares of the so-called meme stock to their highest levels this year.
Loyal retail investors are sticking to meme stocks even as these companies' turnaround plans still came up short.
New York (CNN Business) The meme stocks are back. Shares of GameStop and AMC, two companies beloved by traders on Reddit and other social media platforms, ...