GME and AMC stock surge may impact crypto meme coins, BTC not so much?
Cointelegraph
Published Jun 12, 2021 10:37AM ET
Updated Jun 12, 2021 12:20PM ET
This year, stocks like the movie theater chain AMC Entertainment (NYSE:AMC) and video game retailer GameStop (NYSE:GME) have been the vehicle for individual retail traders to show their dissent against the so-called “free market.”
Starting in late January and driven by sentiment from Reddit communities such as r/Wallstreetbets, these meme stocks have seen enormous growth this year. GameStop has shown 1,069.80% year-to-date returns, while AMC has shown 1,919.34% gains. At this rate, they should have 2,440% and 4,378% returns on an annual basis, respectively.
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Written By: Cointelegraph
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