The GameStop And AMC Moonshots May Be Stickier Than Originally Thought
Submitted by Silverlight Asset Management, LLC on June 1st, 2021
If it were a horror movie, they might call it: “Return of the Killer Meme Stocks.”
Reddit favorites GameStop and AMC Entertainment are soaring again. In May, GameStop rallied 28%, while AMC jumped 160%.
Similar to earlier this year, big returns in meme stocks have brought scary P&L pain to the hedge fund community.