Meme Stocks Sizzle: GameStop, AMC, and American Eagle Surge on Retail Frenzy

GameStop, AMC Entertainment, and American Eagle Outfitters are once again at the center of meme stock action as retail traders light up forums like Reddit and Stocktwits with fresh speculation and heavy trading volume. American Eagle has emerged as a trending favorite following a viral ad campaign starring Sydney Sweeney. The campaign’s popularity is fueling buzz across social channels, pushing the stock up around 10% this week while call option volumes tick higher and short interest sits at a notable 13%. This surge in attention, mixing star power with high short interest, has many traders eyeing the possibility of another classic meme squeeze.

Meanwhile, Upstart Holdings is grabbing headlines after hedge fund manager Eric Jackson openly endorsed the lending platform, predicting it could revisit all-time highs if growth re-accelerates. His public posts sparked a near-doubling in message volume on Stocktwits and a 3.6% rise in the share price, with sentiment among retail traders firmly in the “bullish” category. Upstart’s current short interest is over 22%, and many traders are primed for potential volatility leading up to its upcoming earnings report. Jackson’s forecasts of top-line growth rebounds have added fuel to the speculative fire, with some users predicting an explosive short squeeze—especially if the Fed signals deeper or faster rate cuts.

Carvana and Opendoor Technologies are also making waves, both seeing dramatic increases in online message volume and trading activity. Opendoor, after trading below $1 for much of July, shot up to over $3 mid-month, stoked by Jackson’s endorsements and meme stock traders hunting for the next short squeeze candidate. While the stock settled above $2, volatility remains high, and discussions about its prospects dominate online forums.

Classic meme stocks GameStop and AMC continue to command attention, though their price movements have been less dramatic in comparison. AMC continues to trade near $3 per share, far below its pandemic-era highs, but remains a magnet for retail traders due to its brand recognition and historical meme status. GameStop, still a favorite on Reddit and other forums, hasn’t experienced the explosive surges seen in previous years but remains under close watch by retail and institutional investors alike.

Other names popping up in the meme stock conversation include Krispy Kreme and GoPro. Krispy Kreme jumped onto traders’ radar with a beaten-down share price and a sequence of rapid, meme-fueled rallies, though gains have faded in the wake of fading interest. GoPro has likewise seen bursts of speculation without any fundamental news to support large price swings. Retail traders continue to scan for high-short-interest candidates with viral potential, using volume spikes and trending keywords on social media as leading indicators.

No major regulatory updates or interventions have been announced targeting meme stocks this cycle, though market observers remain alert to any signals from the SEC should volatility spread to broader markets.

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This content was created in partnership and with the help of Artificial Intelligence AI