CLVS - Why Are Meme Stocks AMC and GME Roaring Higher Today?
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Meme stocks are a hot topic among traders on Thursday as investors react to recent news from AMC Entertainment (NYSE:AMC) and GameStop (NYSE:GME).
Starting with AMC Entertainment, the movie theater company announced the date of its earnings report for the second quarter of 2022. The company will release earnings after markets close on August 4. A conference call will follow later that same day.
In addition to this, AMC Entertainment CEO Adam Aron stoked investor excitement in a Tweet today. The company’s CEO said he’s been asked lately about when it will make investments in additional companies.
According to Aron, he keeps his word and has previously said more investment details will be released before AMC’s Q2 earnings report. With the announcement of that date today, he’s told investors to “Read between those lines.”
Next up in meme stocks news we have GameStop and its plans for a stock split. GME stock will undergo a four-for-one stock split on July 22. This will reduce the price of the stock while increasing the number of shares in trade.
So what does this mean for current investors in GME stock? The stock split won’t affect their ownership of GME stock. However, it will allow for other investors to more easily take a stake in the company with its lower price per share.
AMC stock is up 11.9% and GME stock is up 13.1% as of Thursday afternoon.
Investors seeking more of the latest stock market news will want to keep reading!
We’ve got all of the most recent stock market coverage that traders need to know about for Thursday! Among that is what has shares of Grove Collaborative (NYSE:GROV), SoFi (NASDAQ:SOFI), and Clovis Oncology (NASDAQ:CLVS) stock moving today. You can find out all about this at the links below!
More Thursday Stock Market News
- GROV Stock Soars 60% on Distribution Deal With Kohl’s, Other Retailers
- When Do Student Loans Resume? What Does That Mean for SOFI Stock?
- Why Is Clovis Oncology (CLVS) Stock in the Spotlight Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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