GME - The Meme Stock Frenzy Is Back: GameStop Skyrockets As Reddit Traders Go All-In
2024-05-14 13:35:38 ET
Summary
- GameStop stock is skyrocketing after the return of Roaring Kitty to Twitter on Sunday.
- Analysts have since flagged unusual activity in short-dated GME options last week.
- GameStop's fundamentals remain unchanged, with declining revenue and a questionable valuation, making the stock a speculative investment.
- How you might look to make money off of GME options.
After a long slumber, meme stock mania is back. GameStop ( GME ) was up over 100% pre-market today and is still up a little under 80% today as of my writing this. AMC Entertainment ( AMC ) was up even more. AMC disclosed it unloaded $250 million in stock yesterday– enough to cover about three months of the company's ongoing losses. And a quick scan of Reddit WSB showed scores of people YOLOing their life savings on short-dated options in various meme stocks....
The Meme Stock Frenzy Is Back: GameStop Skyrockets As Reddit Traders Go All-In