GameStop and AMC Shares Continue to Climb, but Short Sell Rally Fizzling

By : Benzinga

Published On: 2024-05-15

1.6K Views

00:46

GameStop and AMC shares extended their gains on Tuesday after surging on Monday, but the broader short-sell rally appears to be fizzling out with smaller retail interest compared to 2021. GameStop and AMC shares dropped 15%  on Wednesday, indicating a cooling off of the recent trading frenzy. GameStop and AMC were up 179% and 135% this week, respectively, following a rare social media post from Keith Gill, "Roaring Kitty." AMC completed a $250 million stock sale on Monday and announced plans to issue new shares in a debt-for-equity swap. Some analysts see the renewed frenzy as "frankly stupid" gambling rather than based on company fundamentals.

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