Wall Street is feeling meme stock déjà vu.
The shares of the movie theater chain AMC Entertainment were similarly buoyant, and obscure cryptocurrencies named after Roaring Kitty and GameStop posted huge gains.
Retail traders have been spurred on by the return of Roaring Kitty to social media after a three-year hiatus.
Aside from Roaring Kitty’s return to social media, the rally was not driven by any evident news about GameStop or AMC.
“Given my past experience in analyzing the periodic bouts of meme stock activity, consider me suspicious,” Sosnick wrote in a research note.
Persons:
Keith Gill, Roaring, Gill, Steve Sosnick, ” Sosnick
Organizations:
GameStop, Netflix, AMC Entertainment, Retail, AMC, Interactive