AMC Entertainment Holdings Inc (NYSE:AMC) and GameStop Corp. (NYSE:GME) shares are trading lower, possibly on profit-taking, after both stocks rallied this week.
GameStop shares were otherwise trading sharply higher Wednesday after Chairman Ryan Cohen purchased 100,000 additional shares of the company’s common stock. AMC Entertainment shares were also trading higher during Wednesday’s session on above-average volume amid an increase in retail investor interest.
AMC and GameStop have together been trending across social media platforms and have exchanged places as the top-trending ticker on StockTwits throughout the trading week.
AMC and GameStop may have also experienced a short squeeze this week. AMC has a total share float of 515.00 million, of which 101.33 million shares are sold short, representing 19.68% of shares sold short. Meanwhile, GameStop has a total share float of 46.371 million, of which 11.710 million shares are sold short, representing 25.25% of shares sold short.
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AMC is involved in the theatrical exhibition business.
AMC is trading lower by 6.5% at $19.40. AMC has a 52-week high of $72.62 and a 52-week low of $8.31.
GameStop is a U.S. multichannel video game, consumer electronics, and services retailer.
GameStop is trading lower by 8.5% at $129.05. GameStop has a 52-week high of $344.66 and a 52-week low of $77.58.
