Meme Stocks: Why Reddit Favorites AMC, SNDL, BB and GME Are Moving Today

Meme stocks are striking back on Tuesday with a return to gains as Reddit traders boost shares higher.

The Reddit app and logo displayed on a smartphone screen.

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Typically, we look for some kind of news that could be pushing a stock higher, but that isn’t always the case. Sometimes Redditors and their love of shorting stocks is all it takes to see shares spike in price and trading volume.

Keeping that in mind, let’s take a look at what Reddit’s favorite meme stocks are doing today.

Reddit Meme Stocks on the Move Today

  • AMC Entertainment (NYSE:AMC) stock is heading over 13% higher this morning as some 178 million shares change hands. The stock’s daily average trading volume is 106.6 million shares. AMC is getting a boost on news of Mudrick Capital Management buying 8.5 million shares of the stock for $27.12 per share, or a total of $230 million.
  • Sundial Growers (NASDAQ:SNDL) shares are up next with them climbing over 4% as 175 million shares trade. The company’s daily average trading volume is 235.4 million shares. SNDL is among the pot stocks catching the eyes of investors as the marijuana market consolidates with mergers and acquisitions.
  • BlackBerry (NYSE:BB) stock is gaining more than 6% this morning as roughly 23 million shares change hands. The stock’s daily average trading volume is 14.3 million shares. There’s no apparent reason for the boost in trading today.
  • GameStop (NYSE:GME) shares close out the meme stocks list up over 6% with some 3 million shares moving. The stock’s daily average trading volume is 15.4 million shares. No recent news appears to be directly affecting the stock today.

Investors that are hungry for more market news from Tuesday can keep scrolling.

InvestorPlace has loads of content worth checking out with our daily coverage of the market. A few examples worth noting are what has Nio (NYSE:NIO) up today, the latest crypto headlines, as well as talk of a Chia IPO. Learn all about these subjects by following the links below!

More Tuesday Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/06/meme-stocks-why-reddit-favorites-amc-sndl-bb-and-gme-are-moving-today/.

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