Meanwhile, the prevalence of streaming content has led to a secular decline in movie theater attendance at chains like AMC. More gamers are buying online or digitally downloading their games, removing the need to visit a physical video-game retailer like GameStop. But as the dust settles from those big price moves, investors are forced to reckon with underlying company fundamentals that remain bleak. GameStop and AMC Entertainment became heavily owned by retail investors this year after big short-squeezes sent shares to sky-high prices of about $450 and $72, respectively. Meme-stock favorites GameStop and AMC Entertainment plunged about 15% on Monday as both stocks faced a deterioration in technical support levels. Both GameStop and AMC are experiencing a deterioration in technical support levels that signals more downside ahead.The meme-stock favorites have both experienced wild volatility this year after big short-squeezes.Shares of GameStop and AMC Entertainment plunged as much as 15% during Monday trades.Traders work on the floor of the New York Stock Exchange.
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