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Benzinga
Benzinga
Business
Wayne Duggan

AMC, GameStop Are Running Again: What's Behind The Latest Meme Stock Rally?

GameStop AMC Ryan Cohen Bed, Bath & Beyond GameStop Corp Nasdaq NYSE WallStreetBets

Meme stocks were ripping higher on Monday, led by Bed Bath & Beyond Inc (NASDAQ:BBBY), which was up another 50% on Monday morning and is now up 111.5% in the last week. Other high-flying meme stocks of 2021 are also on the move on Monday, with GameStop Corp. (NYSE:GME) up 12.9% and AMC Entertainment Holdings Inc (NYSE:AMC) up 17.7%.

What Happened? Much like the extreme rallies in meme stocks throughout the last year, the surge on Monday morning does not appear to be tied to any news related to the companies. Last week, AMC reported a smaller-than-expected second-quarter loss of $121.6 million and announced a special dividend of preferred stock that will trade under the ticker "APE."

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