Shares of GameStop Corp. GME, +35.60% jumped 12.0% and of AMC Entertainment Holdings Inc. AMC, +20.68% rallied 6.9% in morning trading Thursday, following sharp losses in the previous session, as they looked to snap losing streaks. GameStop’s stock had plunged 33.8% on Wednesday, the biggest one-day selloff in seven weeks, on the back of disappointing fiscal fourth-quarter results and an analyst downgrade, to cap a five-day, 42.7% selloff. Meanwhile, AMC shares had tumbled 15.4% on Wednesday, and 35.6% amid a four-day losing streak, as losses spread among other meme stocks. GameStop shares have soared 615.4% year to date and AMC’s stock has run up 354.7%, while the S&P 500 SPX, -0.37% has edged up 3.2%.
View Article Origin Here
