On March 16, 2023, a GameStop store in a Chicago mall was open for business.
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game station and aviation medical center BlackBerry shares were flat and Kos edged lower on Wednesday as the broader meme stock trading frenzy showed signs of fading early in its third day.
At 07:08 a.m. EST, physical video game retailer GameStop rose 6.2%, and theater chain AMC rose 3.8%.
Other so-called “meme stocks” were mixed in early trading.Stocks of once-popular smartphone makers blackberries Down 0.58%, headphone maker Coase Down 6.83% at 07:08 AM ET
The meme stock craze revived Monday, seemingly reignited by a rare social media renew From “The Roaring Kitten”. The man, whose legal name is Keith Gill, posted a photo on the X social media platform of a video gamer sitting on a chair, an expression used by gamers to show they are taking the game seriously Bag.
Gill, aka DeepF——Value on Reddit, is a The former marketer for Massachusetts Mutual Life Insurance led a group of day traders into GameStop in 2021.
The return of the meme stock phenomenon sent shares of GameStop and AMC up more than 70% on Monday, with the stock’s gains extending into Tuesday. By the end of the last session, enthusiasm seemed to be fading.
Speaking on CNBC’s “Signpost Europe” on Tuesday, Smead Capital Management CEO Cole Smead called the meme stock craze “frankly stupid.”
“This is gambling,” he said.
—CNBC’s Li Yun contributed to this report.
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