GameStop Corp. shares GME,
rose 13% in premarket trading on Friday and looked poised for another day of high volumes. The video game retailer’s stock is on track for a 168% gain in the week following a move that started late Wednesday and continued through Thursday. In the absence of market-moving news, the move is again attributed to activity on Reddit’s WallStreetBets forum. Other meme stocks swept up in a trading frenzy in January were also active. AMC Entertainment Holdings Inc. AMC,
down 0.2%, BlackBerry Ltd. BB,
down 2.4%, Naked Brand Group Ltd. NAKD,
fell 4% and Koss Corp. KOSS,
was down 8%. Year-to-date, GameStop is up 477%, while AMC is up 291%, after investors on that Reddit forum in January attempted to create a short squeeze in both stocks. The unusual moves led to a congressional committee hearing last week at which executives from Reddit, the trading app Robinhood, Citadel and Melvin Capital answered questions, along with individual investor Keith Gill – aka ‘Roaring Kitty