Why Shares of GameStop and AMC Entertainment Skyrocketed Today
Shares of GameStop (NYSE: GME) and AMC Entertainment (NYSE: AMC) surged 52% and 21%, respectively, Thursday, helping them recover a significant portion of their recent losses.
GameStop's stock shed a third of its value Wednesday after the video game retailer's fourth-quarter revenue and operating profits fell short of Wall Street's expectations. Analysts were also miffed that GameStop failed to offer much insight into its digital transformation plan and declined to take questions during its earnings call.
AMC Entertainment was likewise down sharply earlier this week, following news that Walt Disney would make two of its upcoming movies available on its popular Disney+ streaming service the same day they begin showing in theaters.
Source Fool.com
