GameStop Meme Stock Rally Continues

May 14, 2024 By MarketDepth

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GameStop (GME) continues its upward trend as meme stock rally comes back to life. GameStop and AMC have seen increased volume and stock price with retail traders coming roaring back onto those stocks. Both GameStop and AMC have seen over 100% in stock price in the last 2 days.

GameStop opened at $60 which is up over 300% from Fridays close of $17.46 and has an intraday price of $37. AMC also saw a surge in price with a Friday close of $2.91 and a high of over $11 intraday on Tuesday. Both companies saw large spike in volume which helped push the price up.

Not only has GameStop and AMC seen a surge in activity but many heavily shorted stocks saw a move in volume and price. AMC issued 72.5 million shares effectively raising $250 million on the increased volume.

Many are trying to see if roaring kitty who led the Reddit short squeeze had any involvement in the companies or just putting a generic post.