GameStop Stock Gained 27% on Tuesday

Most Meme Stocks Look to Extend Gains, AMC, Koss Up 4%

GameStop stock was slipping this Tuesday (08/24/2021) after gaining 28% on Tuesday. But the revival of the meme-stock trade could be good news for small-cap stocks generally.

Shares of GameStop have declined 1.1% to $208.05 in premarket trading Wednesday. It’s not much of a move compared with Tuesday’s surge, but with meme stocks, one never can tell.

GameStop stock had dropped nearly 50% since peaking in early June, but erased 40% of that drop in one day. It also looks to have cleared resistance at about $200, which means there could be more upside ahead. Don’t be surprised if $200 becomes support.

AMC Entertainment (NYSE:AMC) and Koss (NASDAQ:KOSS) were up 4% each while GameStop (NYSE:GME), Virgin Galactic (NYSE:SPCE) and BlackBerry (NYSE:BB) were all up 2% in Wednesday’s premarket trading. Clover Health (NASDAQ:CLOV) was up 0.7%.