GameStop, AMC Undercut Key Levels As Risks Compound; Are Meme Stocks A Buy Now?
Meme stocks like AMC Entertainment and GameStop get their price spikes from exceptional buying interest. Adding to that risk, GameStop undercut the 50 day moving average on Tuesday as shares dived 10%. Shares also lost the 21-day moving average for the first time since third-quarter results were announced on Dec. 10.