Meme Stock Rally Continues: GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) Surge Again

GameStop (GME) and AMC Entertainment (AMC) extended their remarkable rally into a second day during early U.S. trading on Tuesday, as the resurgence of interest in so-called meme stocks gathered momentum. The rally, sparked by the return of a key figure from the 2021 meme stock frenzy, saw both stocks soar by over 50%, building upon their substantial gains from the previous trading session.

Renowned investor and fund manager Bill Gross, known for his insightful market commentary, added fuel to the fire with his remarks on the social media platform X. In a cryptic post, Gross remarked on the phenomenon, humorously stating, "‘Gamestonk' is passe. What could be a better buy signal than a cartoon man sitting upright in his chair?" He further quipped about the volatility associated with such stocks, cautioning against the frenzy.

The resurgence in meme stock activity also spilled over to other notable names favored by retail investors. Stocks like BlackBerry (BB) and Koss Corporation (KOSS) witnessed significant surges, buoyed by the renewed enthusiasm among traders. Reddit (RDDT), the platform that played a pivotal role in the 2021 meme stock frenzy, experienced an uptick in activity, along with Robinhood Markets (HOOD), which reported robust retail trading volumes during the craze.

Despite the notable uptick in stock prices, the fundamentals of the companies involved remained unchanged. The latest rally was largely attributed to the return of Keith Gill, also known as "RoaringKitty" and "DeepF***ingvalue" on social media platforms. Gill's cryptic posts, featuring clips from popular movies and comics, sparked renewed interest and speculation among investors, reminiscent of the 2021 meme stock frenzy.

As the meme stock saga continues to unfold, stay updated on market trends and sentiment shifts with real-time insights from the Company Rating API. Access the API here to monitor the evolving landscape of meme stocks and identify potential investment opportunities in the dynamic world of retail trading.