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Why AMC Entertainment and GameStop Are Rising Together Again

·2-min read

The dynamic duo of meme stocks are at it again today as shares of AMC Entertainment (NYSE: AMC) and GameStop (NYSE: GME) are moving once more in tandem this morning. The movie theater operator is carrying meme stocks higher with its shares trading up 8.3% at 10:37 a.m. ET on Thursday, while the video game retailer is up a more modest 1.1%. Meme stocks had fallen out of favor for a while, but in recent weeks traders have awoken to their volatile issues once more, especially after AMC announced it was creating a preferred share of stock that would be issued to investors on a one-for-one basis based on the number of shares of common stock they own.