Quick Read – While GameStop declined 6% after swapping $1.4B in debt for new shares, AMC rose 6% on Spider-Man’s record $927M global opening weekend. – GameStop CEO Ryan Cohen forfeited his pay package to pursue a rejected $56B eBay takeover, while Bitcoin’s 28% year-to-date…
cline puts pressure on GameStop’s crypto treasury. – Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and GameStop didn’t make the cut. Grab the names FREE today
The meme-stock cohort is no longer moving in tandem. On Monday morning, GameStop (NYSE:GME) shares are down 6% to $20.42 after a dilutive debt-for-equity exchange, while AMC Entertainment (NYSE:AMC) shares are up 6% to $2.97 on a record box-office weekend. BlackBerry (NYSE:BB) shares, meanwhile, are only down slightly as they’ve slipped 1% to $8.41.
Each name is trading on its own catalyst today, and that’s the story. For years, the meme basket rallied and cratered together on sentiment. The Monday tape shows a cleaner split, with GameStop stock reacting to balance-sheet math, AMC stock reacting to ticket sales, and BlackBerry stock trading on nothing in particular.