GameStop shares are rising on the day, but are suffering a huge, first weekly loss since the trading frenzy began

GameStop shares are rising on the day, but are suffering a huge, first weekly loss since the trading frenzy began

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Shares of GameStop Corp. GME,
+ 20.12%
On Friday, it rose 31.8% in morning trading, but this week it suffered a big loss, the first since the trading frenzy in the heavily shortened video game and consumer electronics retailer began about a month ago. It fell 78.3% this week, after soaring 1,737.2% over the past three weeks. The stock has now risen 79.7% since rising to a record $ 347.51 on January 27th. Meanwhile, the shares of AMC Entertainment Holdings Inc. AMC,
+ 0.14%,
who were also caught in the apparent short pressure, jumped 3.1% on Friday after tumbling 21.0% on Thursday. The share of the movie theater chain, which rose this week to a loss of 44.9% after rising 277.8% the previous week, is now trading at 63.3% below the end of January 27 of $ 19.90 , which was the highest closing price since October 2018. over the past three months, GameStop shares have risen 515.7% and AMC shares have risen 197.1%, while the S&P 500 SPX,
+ 0.32%
achieved an increase of 10.7%.

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