Source: Zhitong Finance Author: Wei Haoming

On Tuesday, video game retailers$GameStop (GME.US)$The stock price continued to soar after opening. Earlier, the company said it had raised nearly 1 billion US dollars through a stock sale program as investors regained interest in this so-called “meme stock.” As of press release, GameStop's stock price has risen by more than 14%. The video game retailer said on Friday that taking advantage of the trading boom earlier this month, the company sold 45 million shares and raised around $933 million.

In the past few weeks, Meme stocks have ushered in “extreme wealth”, driven by the return of the “big brother” of American retail investors to social media platforms. American retail “leading brother” Keith Gill, who promoted “retail vs. Wall Street” and hyped up the stock price of game stations in 2021, returned to social media platform X after a lapse of three years. X user Keith Gill, whose username is “Roaring Kitty,” posted his first post since June 2021. The post's content is an image of a “man leaning forward in a chair,” a very popular meme pack among gamers, showing that things are getting serious. Some traders think this means that Keith Gill is starting to act again.

Another stock favored by retail investors, AMC Cinemas (AMC.US), took advantage of the market's renewed interest in the field even more quickly. The AMC cinema chain is taking advantage of Dongfeng's sharp rise in “meme stocks” to cut debt and repeat the situation in the frenzy of 2021. Earlier, AMC stated in a regulatory filing that it had reached a private agreement to exchange 10% of the approximately US$164 million notes due in 2026 for 23.3 million newly issued shares. The value of the new shares is $7.33 per share based on the principal amount of the exchange and accrued interest. Shares of the troubled cinema operator rose 7% in pre-market trading on Tuesday.

edit/lambor