While the broader markets failed to make any big moves for a second straight day, the same can’t be said for meme stocks.
AMC Entertainment Holdings (AMC, +95.2%) – which got caught up in GameStop’s (GME, +13.3%) massive short squeeze earlier this year – has been the one to watch recently, and hit a record high today after the movie theater chain said it will offer free popcorn and other perks to retail investors.
“The meme stocks accelerated to the upside today,” says David Keller, chief market strategist at StockCharts.com, with AMC, Bed Bath & Beyond (BBBY, +62.1%), Koss (KOSS, +68.6%) and BlackBerry (BB,+31.9%) among those that were notably higher.
“Once again, we see the direct impact that a large group of individual investors can have on individual stocks. This also confirms the speculative nature of these names, as the meteoric rise in recent days is driven less by any legitimate fundamental factors and more due to pure…