GameStop's Second Meme Surge Fails To Draw 2021's Retail Investor Crowd, SEC Data Shows (CORRECTED)
Portfolio Pulse from Michael Juliano
GameStop's recent meme stock surge in May 2023 did not attract the same level of retail investor interest as seen in 2021, according to SEC data. Retail participation was about half of what it was during the original frenzy. Despite a significant price increase in May, the stock closed down 2.90% at $20.74 on Tuesday.
August 27, 2024 | 9:40 pm
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NEGATIVE IMPACT
GameStop's recent stock surge in May 2023 did not attract the same retail investor interest as in 2021, with participation halved. Despite a price increase, the stock closed down 2.90% at $20.74.
The SEC data indicates reduced retail investor participation in GameStop's recent surge compared to 2021. This suggests less enthusiasm and potential for sustained price increases, leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
AMC Entertainment Holdings was indirectly affected by the GameStop rally in 2021 as part of the meme stock frenzy. However, the recent GameStop surge did not have the same impact.
AMC was part of the 2021 meme stock rally but the recent GameStop surge did not have the same effect on AMC, indicating a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 30
RELEVANCE 20