Bed Bath & Beyond, GameStop, and AMC are all experiencing growth as meme stock mania returns

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Last Updated on August 9, 2022 by Bitfinsider

Shares of Bed, Bath & Beyond (BBBY), GameStop (GME), and AMC (AMC) all surged on no news to start the week, with renewed attention on these names from traders on Reddit’s Wallstreetbets message board the only common denominator investors came to know in early 2021.

Data from Ape Wisdom, a site that tracks ticker mentions on Wallstreetbets threads, show that mentions of Bed, Bath & Beyond, GameStop, and AMC increased significantly from Sunday to Monday, with these three names serving as the most popular tickers at market open.

Bed, Bath & Beyond shares increased by up to 50%, while GameStop and AMC shares increased by more than 15%. In the first few minutes of trading, shares of GameStop and AMC were both halted due to volatility.

To begin the week, Bed, Bath & Beyond shares were up 39% at market close, AMC shares were up 8%, and GameStop shares were up 8.5%.

Ryan Cohen, the co-founder of Chewy and one of the most prominent investors in the meme trade that captured the nation’s attention in January 2021, has ties to both GameStop and Bed, Bath & Beyond.

Cohen is the chairman of the board of directors at GameStop, and his firm, RC Ventures, owns nearly 10% of Bed, Bath & Beyond. Bed, Bath & Beyond CEO Mark Tritton stepped down as chairman and CEO in June, a shakeup that comes after the company agreed with Cohen in March to add directors to the board and explore strategic alternatives for its buybuy BABY brand.


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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

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