It is now 2024 and GameStop is still around and the stock is still getting halted on the markets due to massive price swings triggering "circuit breaker" trading halts:

I can't think of another monthly quite like this, the chart is like a fractal of crazy price action. Here's the daily chart from today, featuring another amazing gap:

Apparently this recent spike corresponds with "Roaring Kitty" reappearing on social media with this post on X.

This post has nothing more than a drawing of someone leaning forward in a gaming chair, no text or context, just a photo. Super interesting to see what social media, and more broadly the internet, can do to the prices of stocks these days.

Its worth noting that GME has managed to keep surviving in contrast to some other "meme stocks" that were popular at the same time as the initial GME short squeeze. We saw the demise of Bed Bath and Beyond which filed for Chapter 11 bankruptcy in April 2023 and had its last store close in July of 2023. Interestingly the Bed Bath and Beyond website was acquired by overstock.com as part of the bankruptcy proceedings so if you went to the site you might think the company was still going even though it isn't. I guess that's why they bought out the domain, probably gets them a lot of traffic. There's rumors about the future of AMC Entertainment spreading around too. The chart of AMC lately has no such comeback:

This all gets to the heart of why GMC was such a different investment opportunity as compared to AMC, both had a considerable amount of hype on social media at one point but GMC had a far more compelling trade based on the numbers. You can see in the daily chart that the latest social media stuff has given it a big boost, this is a huge one day move.

But I can't help but wonder if the fundamentals likely still aren't there with AMC, they did after all massively dilute company stock after the share price went up. After seeing AMC take funds raised from the hype to invest in Hycroft Mining, something that on the surface appeared to be entirely outside the industry AMC usually operates in, I started have serious questions about the company leadership. Why would an entertainment company be buying stakes in gold mines? Is this the next iteration of the "gold class" cinema concept? Why would company owners be buying shares in unrelated industries when the company holds a lot of debt but doesn't have great cashflow or free cash? Other people had the same question. Perhaps its all just a meme at this point though. Or perhaps its that Hycroft was taken public by a merger with Mudrick Capital Acquisition Corporation in May 2020 and Mudrick Capital Management injected $100 million into AMC in December 2020 to help AMC avoid bankruptcy. Or maybe that's just a wild coincidence at a meme like level?