On January 27, 2021, a woman walked through the GameStop store inside the Susquehanna Valley Mall in Selinsgrove, Pennsylvania.
Photography: Paul Weaver/SOPA Images/LightRocket via Getty Images
game station and aviation medical center Household investors bought in in droves, but those purchases pale in comparison to the explosion of meme stocks three years ago.
The video game seller and movie theater chain saw net inflows from retail transactions of more than $15.8 million and $37.5 million, respectively, on Monday, according to Vanda Research. But that figure pales in comparison to GameStop’s peak daily inflows of about $87.5 million and AMC’s peak daily inflows of $170 million in late January 2021.
Shares of both companies rose more than 70% on Monday after “Roaring Kitty” posted a series of cryptic posts on social media site X. Stocks are known for tightening. This is the first post by the user, whose legal name is Keith Gill, on X or Reddit since 2021.
But expectations for a broader resurgence in the meme stock craze hit cold water on Tuesday, as the pair saw more of a modest rebound (albeit still sizable). AMC and GameStop, among other names tied to the 2021 blitz, including blackberries and Coasewell below the intraday high set in Tuesday afternoon trading.
Still, GameStop and AMC were up more than 55% and 40%, respectively, on Tuesday as of 2:15 p.m. ET. Both have soared over 150% year to date.
GameStop and AMC this week
These rallies occurred despite concerns among investment professionals that these stocks would rise without substantial catalysts. The resurgence in activity surrounding this group of stocks has spelled trouble for investors who bet against them.
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