GameStop (GME) and AMC Entertainment (AMC) Stocks Plunge Following Two-Day Bullish Rally

  • Shares of GameStop and AMC Entertainment experienced a significant drop on Wednesday, following a two-day rally sparked by the return of Keith Gill, also known as ‘Roaring Kitty’.
  • Gill, a central figure in the 2021 meme stock frenzy, had a significant influence on the surge of these stocks through his social media posts and YouTube streams.
  • Despite the recent tumble, both GameStop and AMC were among the top 10 securities bought by retail investors on Tuesday.

GameStop and AMC Entertainment stocks tumble after a short-lived rally, highlighting the volatile nature of meme stocks and the influence of social media on retail investors.

GameStop and AMC Stocks Take a Hit

After a two-day rally, shares of GameStop and AMC Entertainment took a significant hit on Wednesday. The rally was largely attributed to the return of Keith Gill, also known as ‘Roaring Kitty’, who was a central figure in the 2021 meme stock frenzy. GameStop shed nearly 30 per cent of its gains from the past two sessions, while AMC fell 25 per cent after surging 135 per cent in the same period.

The Influence of ‘Roaring Kitty’

Keith Gill’s influence on the stock market has been significant. In 2021, his YouTube streams and posts on Reddit helped attract a flood of retail cash into GameStop. On Tuesday, he shared a clip from the movie ‘Braveheart’ on X (formerly Twitter) with the word ‘GameStop’ flashing on the screen, marking his first company mention after a three-year gap from the platform.

AMC’s Debt Exchange and Trading Halt

In an exchange filing, AMC announced it will issue nearly 23.3 million shares of its stock to exchange for $163.9 million in debt that it owes. Following the market opening, trading in these retail investor darlings was halted multiple times, with investors exchanging more than $2.3 billion worth of GameStop shares.


The recent tumble of GameStop and AMC stocks highlights the volatile nature of meme stocks, which are often subject to sudden surges and drops due to the influence of social media and retail investors. Despite the fall, both stocks were among the top 10 securities bought by retail investors on Tuesday, indicating continued interest in these companies.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Latest News

Ethereum (ETH) Surges as Mega Whales Accumulate: Is $4,900 on the Horizon?

Ethereum has been experiencing significant price movements,...

Chainlink (LINK) Partners with Circle (USDC) to Expand Enterprise Solutions

Chainlink has announced a strategic partnership with...

Bitcoin (BTC) Bull-Bear Indicator Signals Market Direction: Key Insights Revealed

Bitcoin's market dynamics are once again under...

New Study Confirms Bitcoin (BTC) Enthusiasts Are Not Psychopaths, Debunking Myths

Bitcoin investors are often perceived as financially...

PRO Analysis

Nansen Reveals DBS Bank’s Hidden Ethereum (ETH) Holdings in Blockchain Analysis

DBS Bank, Singapore’s largest bank, has been...

Crypto Markets Plunge Up to 5% Awaiting U.S. Data: Key Altcoins Affected – BTC, ETH, ADA Analysis

The cryptocurrency markets are eagerly awaiting the...

FTSE 100 Index Analysis: Key Insights for May 30, 2024 – Market Trends and Projections

Cryptocurrency markets have been experiencing...

AI Predicts 2024 End-of-Year Surge for XRP and SHIB Coins: Expert Analysis Inside!

The crypto markets have been a rollercoaster...
Gideon Wolf
Gideon Wolf
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.

Lok Sabha Elections 2024: Strategic Moves for Retail Investors in BTC and ETH Post June 4

As the Lok Sabha Elections 2024 approach, retail investors are eagerly awaiting the results. Market experts are...

US Stock Market Recap: Major Indexes Performance on Thursday, May 30, 2024

U.S. stocks experienced mixed results following profit reports from major companies and economic signals indicating a potential cooling. Despite most stocks...

Dixon, Kaynes Tech, Syrma SGS (SYRMA): High Growth Potential Amidst Rich Valuations – Investor Insights

The electronics manufacturing services (EMS) sector may be poised for substantial growth going ahead. High valuations could dampen investment prospects in...