Meme stocks GameStop (GME), AMC (AMC) attract investors’ interest

October 01, 2021 11:50 AM PDT | By Ipsita Sarkar
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  • The GameStop Corporation (NYSE: GME) stock increased by 917.22 percent YTD.

  • AMC Entertainment Holdings, Inc. (NYSE: AMC) stock grew by 1793.53% YTD.

  • GME’s net sales were US$1.18 billion in Q2, FY21.

Stocks of GameStop Corporation (NYSE: GME) and AMC Entertainment Holdings, Inc. (NYSE: AMC) were trending on Wall Street Friday. However, both the shares were trading flat.

The stocks of GameStop (GME) were priced at US$174.05 at 11:10 am ET on October 1, down by 0.81 percent from its previous closing price, while shares of AMC traded at US$38.24 at 11:11 am ET on Friday, up 0.47 percent from its closing price of September 30.

Let's look at the recent performance of the stocks.

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GameStop Corporation (NYSE: GME)

GameStop Corporation is a video game, electronics, and retail gaming company based in Grapevine, Texas. It is one of the leading video game retailers globally.

The stocks caught the eyes of the investors this year after their rapid rise fuelled by social media trends, hence the pseudonym meme stocks.

Recently, Citadel Securities have come under the scanner for its alleged role in the GME stock trading frenzy. However, on Tuesday, it rejected the claims that it forced Robinhood Markets Inc. (HOOD) and other firms to limit trading in GME stocks, which caused losses to small investors.

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GME’s market cap is US$13.35 billion, the forward P/E one year is -649.89, while its EPS is US$-0.96. In addition, its 52-week highest and lowest stock prices were US$483.00 and US$9.10, respectively. The trading volume was 3,177,453 on September 30.

The company’s net sales were US$1.18 billion in Q2, FY21, compared to US$942 million in the same quarter of the previous year. It reported a net loss of US$61.6 million against a loss of US$111.3 million in the second quarter of the prior year.

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Meme stocks: GameStop (GME) and AMC Entertainment (AMC)

AMC Entertainment Holdings, Inc. (NYSE: AMC)

AMC Entertainment is a movie theater chain based in Leawood, Kansas. In addition, it is a theatrical exhibition firm and has operations in the US and various other international markets.

The company announced on Thursday that it implemented an option to buy back US$35 million of its 15 percent cash and 17 percent payment-in-kind (PIK) Toggle First Lien Secured Notes due in 2026. Meanwhile, the total value of the buy-back option is US$41.3 million, which includes the principal, accrued, and unpaid interest.

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The market cap of the company is US$19.87 billion, and the forward P/E one year is -13.84. Its EPS is US$-16.75.

AMC’s highest and lowest stock prices in the last 52 weeks were US$72.62 and US$1.91, respectively. Its share volume on September 30 was 102,819,800.

The company's revenue was US$444.7 million in Q2, FY21, compared to US$18.9 million in the previous year's second quarter. It reported a net loss of US$344 million, against a loss of US$561.2 million in the year-ago quarter.

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Both the stocks saw significant gains this year. Also, on Friday, the GME and AMC stocks were among the most discussed stocks on social-media platforms, which may have helped gain traction in the market. GME rose 917.22 percent YTD, while AMC jumped 1793.53 percent YTD. Nevertheless, investors should evaluate the companies carefully before investing in stocks.


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