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Money never sleeps: Gain insights into market sentiment with short sale data
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JulianMackie joined discussion · Aug 18, 2022 04:35

What Is Going on With Meme Stocks GME, AMC Today?

$GameStop (GME.US)$ $AMC Entertainment (AMC.US)$ $Bed Bath & Beyond Inc (BBBY.US)$
Meme stocks are staging a comeback in 2022’s second half, it seems. Among the runners this week are GameStop stock and AMC stock. It looks like those stocks are catching a broader revival in short-squeeze mania, led by Bed Bath & Beyond.

Typically, Reddit traders will look for certain qualities in a good short-squeeze target. They like it when a stock is relatively low-priced, as in less than $100. Also, they tend to prefer stocks with sentimental value, and Bed Bath & Beyond could definitely be considered an underdog.
What Is Going on With Meme Stocks GME, AMC Today?
After all, the big-box retail chain has had to deal with high inflation and its negative impact on consumer spending. The same could be said about GameStop and AMC Entertainment as well.

There’s also an interesting connection among two of these companies. Specifically, GameStop Chairman Ryan Cohen reportedly bought out-of-the-money call options on 1.6 million Bed Bath & Beyond shares. It’s possible, then, that traders observed Cohen’s apparent confidence in meme stocks and consequently went all-in on GameStop and AMC Entertainment shares.
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JulianMackie
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