Meme stock GameStop jumps after report of foray into NFT, crypto markets
07/01/2022 10:39
** Video game retailer and "meme stock" GME.N jumps 18.3%
to $155 premarket; co among the top three pct gainers across
U.S. exchanges
** GME is launching a division to develop a marketplace for
non-fungible tokens (NFTs) and establish cryptocurrency
partnerships, a source familiar with the matter said on Thursday
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** AMC Entertainment AMC.N , another meme stock, gains
6.9%; also among the busiest stocks across U.S. exchanges
** GME and AMC are among the most watched and discussed
stocks on Stocktwits, a retail trader forum
** Bed Bath & Beyond BBBY.O gains 3.4% even as at least
five brokerages cut its PT after its Q3 results on Thursday; co
among most watched stocks on Stocktwits
** Other retail favorites also up: Koss KOSS.O and Farmmi
FAMI.O by 2.9% each, Camber Energy CEI.O by 2.5%, and Virgin
Galactic SPCE.N by 2.3%
** Cenntro Electric Group NAKD.O , Vinco Ventures BBIG.O ,
and SoFi Technologies SOFI.O rise 1%-1.9%
** GME's stock has surged more than six-fold over the past
12 months, spurred by a retail trader frenzy that began in
January 2021
(Reporting by Ruhi Soni in Bengaluru;)
((Ruhi.Soni@thomsonreuters.com ; Twitter: https://twitter.com/ruhithere
;;))