GameStop, AMC Entertainment Shares Spike Monday Afternoon: What's Going On?
Portfolio Pulse from Adam Eckert
GameStop (GME) and AMC Entertainment (AMC) shares spiked on Monday afternoon, driven by retail investor momentum and social media activity, particularly from influencer Keith Gill. Despite no new updates from Gill, both stocks saw significant trading volume and chatter on platforms like Stocktwits and Reddit. GameStop and AMC have also announced plans to issue new shares.
May 20, 2024 | 9:12 pm
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AMC Entertainment shares spiked 9.77% on Monday due to retail investor momentum and social media activity. The company plans to issue stock in exchange for notes.
The spike in AMC shares is driven by renewed retail investor interest and social media activity, particularly from influencer Keith Gill. The company's plan to issue stock in exchange for notes could provide additional capital but may also dilute existing shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
GameStop shares spiked 4.41% on Monday due to retail investor momentum and social media activity. The company plans to sell up to 45 million shares.
The spike in GameStop shares is driven by renewed retail investor interest and social media activity, particularly from influencer Keith Gill. The company's plan to sell up to 45 million shares could provide additional capital but may also dilute existing shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100