AMC Entertainment shares ( NYSE: AMC ) , GameStop ( NYSE: GME ) , and Virgin Galactic ( NYSE: SPCE ) were all down by single-digit or higher average rates in Thursday morning trading even as the market indices themselves were for most stable as they digested the latest leap in jobless claims.
The actions of these so-called memes are generally unrelated to fundamentals of the company or in the preomacroeconomic concerns, and today's movements do not appear to be tied to specific company news either. Volatility is exactly theirs way.
AMC was down 7%, GameStop was down 4%, and Virgin was down 6.3%.
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Investors who bought these stocks should not hesitate in their support. Although I think AMC is the the weakest of the three , it has the money to survive for a while, so there will be plenty of time to panic later if the movie company just can't recover from the pandemic and the launch of so many movie streaming services.
GameStop has a lot to prove with the business model oriented in line to which it evolves, but there is a a real chance he could do it . He has a lot of money, no debt and a clearly defined goal of where he wants to go.
Virgin Galactic, for its part, is also a risky business as space tourism is not something that will happen anytime soon. However, this week's launch of Jeff Bezos' Blue Origin to the far reaches of space, following the same kind of journey Virgin created a week ago , shows that this could be a viable opportunity.