Is The New Meme Stock Rally Led By GME, AMC A Repeat Of 2021? Vanda Research Says No: 'Chances We Reach That Stage Are Low'
Portfolio Pulse from Shanthi Rexaline
Meme stocks GameStop (GME) and AMC Entertainment (AMC) saw significant gains earlier this week but experienced a sharp pullback. Vanda Research suggests that the current rally is unlikely to reach the levels seen in 2021 due to lower trading volumes and retail participation. Hedge funds are better prepared this time, and the recent volatility is driven more by fundamentals than social media hype.
May 16, 2024 | 11:59 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
AMC Entertainment experienced a sharp pullback after early-week gains. Vanda Research suggests that the current rally is unlikely to reach 2021 levels due to lower trading volumes and retail participation.
AMC's recent gains were followed by a significant pullback, and Vanda Research indicates that the current rally lacks the volume and retail participation seen in 2021. This suggests a likely short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
GameStop saw a sharp pullback after early-week gains, with Vanda Research indicating that the current rally is unlikely to match 2021 levels due to lower trading volumes and retail participation.
GameStop's recent gains were followed by a significant pullback, and Vanda Research suggests that the current rally lacks the volume and retail participation seen in 2021. This indicates a likely short-term decline in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100