Meme Stock Mania Kicks Up Anew After GameStop Shares Triple
- AMC, Express, Naked Brands rally in day-trader revival
- GameStop recently ousted its CFO, seeks more online presence
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A flurry of buying that saw GameStop Corp. shares almost quadruple from Tuesday’s close spread to a host of other meme stocks at the center of last month’s day trader-fueled boom and bust.
GameStop jumped 104% in Wednesday’s cash session, spurred by a final-hour surge that brought its biggest advance since Jan. 29, the day Robinhood Markets restricted trading in it and 49 other stocks at the height of the frenzy. An equally weighted Bloomberg basket of those rose more than 5%, the most since late January. AMC Entertainment Inc. rallied 18% to push a three-day climb toward 59%. Express Inc. surged 41%, Naked Brand Group gained 31% and Koss Corp. jumped 55%.