Tuesday, October 19, 2021
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GME and AMC stock surge may impact crypto meme coins, BTC not so much?

This year, stocks like the movie theater chain AMC Entertainment (NYSE:) and video game retailer GameStop (NYSE:) 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.