Rally in Meme Stocks: A Closer Look at AMC, Koss, BlackBerry, and Newegg Amidst GameStop's Surge

On Thursday, a notable uptick occurred in the volume and price of several stocks that have gained popularity among retail investors. These so-called 'meme stocks' include AMC Entertainment Inc AMC, Koss Corp KOSS, BlackBerry Ltd BB, and Newegg Commerce Inc NEGG, all of which witnessed heightened trading activity. This movement followed a sudden and swift surge in shares of GameStop Corp GME, another stock that has achieved meme status on internet forums and social media platforms, particularly in discussions among retail investors.

The Catalyst Behind the Trend

The leader of this latest rally, GME, experienced a surge that appears to have sparked broader interest in stocks that, over the past year, have been subject to intense trading fueled by retail trading phenomena. The ripple effect impacted AMC, BB, NEGG, and KOSS, driving their prices up as well. While the exact cause of this wave is a matter for speculation, it is emblematic of the larger influence retail investors' discussions can have on the market.

A Deeper Look at the Meme Stocks

BlackBerry Limited BB operates as a leader in intelligent security software and services. With its headquarters established in Waterloo, Canada, BB has held a place as a perennial favorite among meme stock enthusiasts for its pivot from mobile hardware to security-focused software services.

Moving to the realm of e-commerce, Newegg Commerce Inc. NEGG operates Newegg.com, a significant player in the online retail space for consumer electronics within the United States.

In the entertainment sector, AMC Entertainment Holdings, Inc. AMC is noted for its theatrical exhibition business, with headquarters based in Leawood, Kansas. Although severely affected by the COVID-19 pandemic, AMC has found a robust backing from retail investors.

Lastly, Koss Corporation KOSS resides in the niche of high-fidelity headphones, offering a range of audio products across multiple international markets, including the United States. Headquartered in Milwaukee, Wisconsin, KOSS has been another meme stock target due to its tradable volatility and interest from retail investors.

While these movements are closely monitored by market participants, Alphabet Inc. GOOG, known as the parent company of Google, remained steady without significant volatility common to the meme stock category.

AMC, KOSS, BB, NEGG, GME, GOOG