Gamestop and AMC frenzy is nearly over
Gamestop and AMC frenzy is nearly over
Gamestop and AMC Entertainment were down 19% and 20% on Wednesday
On Tuesday, you received a quick coverage of the Meme stocks craze which has happened in the US stock market this week - link below.
It included a clear warning that these developments will not end well for retail investors who will engage in this. It looks like this frenzy is nearly over, though, we cannot rule out that some volatility will appear in the next few weeks.
On Wednesday, Gamestop and AMC dropped by 19% and 20% and are down 15% and 12%, respectively on Thursday pre-market trading.
Gamestop is now ~67% below its all-time high while AMC is 99% below the peak.
As you can see, at the end of the day any mania and crowd following does not bring any desirable results.
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