On the second day after Keith Gill, the "king of retail investors" in the US stock market, made a high-profile comeback and returned to social platform X, retail investors launched another fierce attack on the meme stock market, and the bearish market continued to unfold in a high-profile manner.
Among them, game stations, AMC cinemas, and others continue to soar.
As Keith Gill, who led retail investors to resist Wall Street, returned to social media, Game Station surged 60% again last night, with a stock price of $48.75 per share. On the previous trading day, the game station opened up more than 50%, with a surge of over 110% at one point. Due to excessive volatility, the circuit breaker mechanism was triggered six times during the trading session.
According to data from S3 Partners, short positions at Game Station have lost a total of $1 billion (approximately RMB 7.24 billion) due to Monday's intraday surge. Last night, the game station continued to rise significantly, and the rapid increase in market value means that the losses of bears will be further amplified.
On May 13th, Gil, who had previously promoted the "retail war against Wall Street," returned to social media platform X after three years and released an emoji picture of a man sitting in a chair, which was interpreted by the market as indicating that he was about to take action again.
Jill rose to fame by calling for the Void Game Station on Reddit. At the beginning of 2021, game stations faced widespread market downturn due to potential sales decline. Jill shared his optimistic views and investment strategies on gaming stations on various social media platforms under the name Roaring Kitty, and publicly disclosed his holdings. He believes that despite financial difficulties faced by game stations, the company's fundamentals are not irreparable. He continues to share his views with the outside world, attracting support from numerous retail investors.
The surge in gaming stations has also injected a "booster" into the "retail group stocks" that benefited together in the past.
On Tuesday local time, AMC theaters also attracted widespread attention from investors, rising by over 121% at the beginning of the trading session, but the gains narrowed and eventually closed up nearly 32%. On the news front, AMC theaters announced that they have completed the previously announced public offering of stocks, selling 72.5 million shares at an average price of $3.45, raising a total of approximately $250 million in funds.
MEME stocks refer to stocks that have received widespread attention and discussion from retail investors on social media and online forums, causing drastic fluctuations in stock prices. This phenomenon is usually related to the collective interest and emotional investment of investors in specific stocks, rather than based on the analysis of company fundamentals.
Some analysts believe that the market trend dominated by speculative behavior is unlikely to last for too long. The current situation is different from 2021, for example, interest rates have already significantly increased.
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