The group of "meme" stocks, led by videogame retailer GameStop Corp. (GME) that have been volatile in recent weeks as investors on a Reddit subgroup have egged each other on, were active again in premarket trade Monday. GameStop shares were up 5% premarket, while shares of AMC Entertainment Holdings Inc. (AMC), the world's biggest cinema chain, were up 12%. BlackBerry Ltd (BB.T) was up 3.8%, and Naked Brand Group Ltd. (NAKD) was up 9.5%. Koss Corp. (KOSS), a maker of headphones, was up 2.9%. GameStop shares have gained 440% in the year to date, as investors on Reddit's WallStreetBets platform sought to punish short sellers who had driven short interest in the stock to 140% by buying the stock and creating a short squeeze.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 01, 2021 07:02 ET (12:02 GMT)
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