Meme stocks are on a wild ride, led by AMC, while the broader equity market is running in place
Meme stocks are on the move again—while the broader market is running in place.
Shares of AMC Entertainment Holdings Inc., GameStop Corp. and other stocks popular with individual investors have surged over the past two weeks, a frenetic rally reminiscent of theAMC became the latest darling of investors who have banded together on social media in a bid to propel the shares higher. The stock has surged 97% this week through Thursday, despite
. That has extended its gains for the year to over 2,300%. Its daily average trading volume this week has nearly quadrupled the 2021 average.The S&P 500, meanwhile, has waffled in a narrow range as investors parse signals about inflation and the labor market that could feed into the Federal Reserve’s next moves. The benchmark hasn’t notched a gain or decline of more than 0.5% in seven trading sessions, its longest such streak since February, according to Dow Jones Market Data.
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