Why Meme Stocks Like AMC Entertainment Are Moving Today
Shares of so-called meme stocks favored by retail traders on Reddit's WallStreetBets forum are showing mixed results today. While a name like retailer Express (NYSE: EXPR) continues to be highly volatile, trading in others including AMC Entertainment Holdings (NYSE: AMC) and cannabis company Sundial Growers (NASDAQ: SNDL) seems to have calmed some.
Express shares jumped almost 18% early in the session. As of 11:45 a.m. EDT, Express had pared some gains but remained up about 11%. AMC and Sundial were down 1.25% and 3.5% respectively at that time.
As has occurred off and on for much of 2021, the stocks favored by WallStreetBets users spike on high volume at times. Today, Express is on pace for about double its 65-day average trading volume as the price jumps. AMC and Sundial, however, are both trading with volume much lower than that recent average. It may be options trading making Express stand out today.
Source Fool.com
