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AMC Entertainment Memes Stock Veteran Actions (AMC) – Get a report and enterprise software provider Verb Technology (VERB) – Get a report rose on Thursday, while GameStop (GME) – Get a report decreases.
AMC, Leawood, Kan., The nation’s largest theater owner and perhaps the second most popular memes stock, traded at $ 34.80, up 4.1%.
The stock meme’s grandfather, Grapevine, Texas, video game retailer GameStop, recently traded at $ 166.96, down 0.4%.
And Verb Technology, American Fork, Utah, recently traded at $ 2.99, up 20%. It jumped 32% in the six months to Wednesday.
Mediaco Holding MDIA, the owner of the Indianapolis radio station, traded at $ 7.29, down 9.3%.
James “Rev Shark” DePorre says in Real Money that the memes trading movement is not new and not as effective as the media has led average investors to believe.
“Learn to choose your own actions,” he says. “Social media trading is surprisingly uncreative in finding new stock ideas.”
Additionally, “The commercial media likes to portray the memes business as something new, but this type of commerce has been around since its very beginnings hundreds of years ago,” DePorre said.
“There will also be groups that challenge the conventional wisdom of the professionals who control the market. It is not at all surprising that there are small traders with limited capital who have no interest in holding a diversified portfolio of stocks for the long term. “
TheStreet.com founder Jim Cramer also expressed his caution this week. Meme’s actions “away from AMC and GameStop appear to be twisted,” he said. They appear to be pumps and dumps.
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