The 2021 meme share rally came to an abrupt end when Gamestop’s stock value plummeted by over 26% in a single day. This decline was largely attributed to the company’s announcement of plans to sell up to 45 million shares to investors, which many saw as a way to capitalize on the inflated share prices.
Additionally, shares of the cinema chain AMC also experienced downward trends in price, with a three percent drop by Friday evening. The decline in AMC’s stock price was influenced by the actions of American private investor Keith Gill, who played a role in the initial surge of AMC’s stock price earlier in the week.
Gill, known as Roaring Kitty on a messaging service, had recently made updates on his profile amidst the ongoing market fluctuation. The aftermath of the rally saw Gill posting numerous messages and content, perhaps aimed at reflecting on the events that transpired.
Despite Gamestop’s share still being nearly 180% higher than the previous week by Tuesday, the increase had slowed down significantly by the end of the week. This shift in market dynamics indicated that individual investors and market speculation played a key role in shaping the events of the week. Overall, both Gamestop and AMC experienced a significant drop in stock prices following
