GameStop, AMC meme revolution: one year since retail investors took stocks on wild ride

A year ago in January, the U.S. stock market got a jolt and an in-your-face introduction to a fresh crop of meme stocks as the retail trading community and Reddit traders waged war against short-sellers and hedge funds.

GameStop and AMC shares climbed and then cratered sending U.S. trading volume across all stock exchanges on Jan. 27, 2021, to the biggest day of the year, as tracked by Dow Jones Market Data Group. Volume has not hit that level since. 

Ticker Security Last Change Change %
GME GAMESTOP CORP. 97.91 +4.39 +4.69%
AMC AMC ENTERTAINMENT HOLDINGS INC 15.06 +0.54 +3.72%

Investment app Robinhood, facing liquidity issues, was forced to suspend some trades, while other brokerages dealt with outages and chaos. 

In the months following, the Securities and Exchange Commission was called on to address the market volatility, even the White House weighed in. 

FOX Business took a look at what we’ve learned since then. 

Meme favorites shifting 

Retail traders are shifting when it comes to their favorite and most-held stocks, according to Apex Clearing which tracks the percentage of holdings by generation. 

For GenZ and Millennials, Tesla, Apple and AMC lead the top three, while GameStop has fallen to 11th and 14th place.

 

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