GameStop and AMC Actually Did Improve Their Fundamentals Last Week
Last week was huge for the two most popular meme stocks. Shares of AMC Entertainment Holdings (NYSE: AMC) and GameStop (NYSE: GME) soared 39% and 92% higher for the week, respectively. If this were late January, we would attribute the pops to Reddit-fueled short squeezes for fundamentally flawed nostalgia stocks, but things are different this time.
On one hand, short interest has contracted dramatically for the multiplex operator and video game retailer over the past two months. There are fewer naysayers betting against the meme stocks to squeeze out. However, unlike the original frenzied rally earlier this year that blindsided shorts with its ferocity, this time around there are actually positive business catalysts triggering the renewed market interest in AMC Entertainment and GameStop.
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Source Fool.com
