Reports emerged on Tuesday that the European Union is targeting more than 1 billion COVID-19 vaccinations by September. Some COVID-19 vaccine stocks are set for a bull run.
GameStop s Stock Is Nearing Resistance In A Pennant Pattern
Gamestop Corp. (NYSE:GME) shares are rallying Wednesday as traders try to squeeze the stock higher.
Late Tuesday, a GameStop website went live saying the company was going to make a new non-fungible-token (NFT) platform over the
Ethereum (CRYPTO:ETH) blockchain platform. This platform seemingly confirms speculations from April that the company may be venturing into the world of NFT’s and cryptocurrency.
Other notable Reddit stocks with increased trading volume today include
BlackBerry LTD (NYSE:BB),
AMC Entertainment Holdings Inc. (NYSE:AMC), and
Koss Corp (NASDAQ:KOSS).
GameStop looks to be forming into what technical traders may call a pennant pattern.
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Eric Nuttall s Top Picks: May 28, 2021
AMC s embrace of day-trading crowd leads to dizzying rally
Wall Street pros are as baffled as anyone by the dollarâs fate
Gates divorce forces US$50-billion foundation to weigh changes
U.S. Justice Department opens probe into Archegos blowup
Lorne Steinberg s Top Picks: May 27, 2021
U.S stocks rise as strong data rekindle value rotation
Small caps take the lead in broad stock rotation
Kevin Burkett s Top Picks: May 26, 2021
Bank of Canada digital currency would be greener than Bitcoin, deputy says
Bitcoin bounces off highs as crypto market volatility increases
Green bond seller investing in coal shows how tricky ESG can be
AMC Entertainment climbs by about 13% in the stock market on Wednesday morning.
The surge is believed to be linked to Amazon s $9 billion acquisition of MGM Studios.
AMC hype sparked again in May resulting in an over 70% gain in the last two weeks.
Movie theater chain AMC Entertainment Holdings Inc (NYSE: AMC) was among the most popular “meme stocks” in early 2021. In recent days, the meme stock trade returned in full force with shares of AMC up 13% Wednesday morning and are higher by nearly 50% in the past five days alone.
There is no company specific news that would justify a surge in valuation in AMC stock. Some are speculating the move higher after Amazon.com, Inc. (NASDAQ: AMZN) expressed deep interest in acquiring MGM’s content library. This move reinforces the thesis that despite the rise of streaming video options, theatrical releases still have a lot of value.