GME Stock Forecast: GameStop hits seven straight days of gains during mixed session for stocks

NYSE:GME gained 1.13% during Thursday’s trading session.
AMC reports its quarterly earnings and announces a special dividend.
AMTD Digital falls back to Earth as trading volatility continues.

Stocks Reporter FXStreet

NYSE:GME has been on a strong streak to begin the month of August as the lead meme stock hit its seventh straight positive session. On Thursday, shares of GME added a further 1.13% and closed the trading day at $38.36. Stocks were mostly flat on Thursday as investors weighed Wednesday’s rally and the key July jobs report that is being released on Friday. Overall, the Dow Jones slipped lower by 85 basis points, the S&P 500 inched lower by 0.08%, and the NASDAQ posted a 0.41% gain during the session.

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GameStop’s main running mate, AMC (NYSE:AMC) reported its second quarter earnings after the markets closed. The company reported a wider than expected loss of $121.6 million during the quarter. But the big news from the company is that it announced a special dividend of preferred shares that will trade under the ticker symbol APE. These will be created in a 1 for 1 ratio to common shares and can be converted if the shareholder vote passes. This dividend was not enough to sway AMC Apes though, as the stock was down by nearly 12% in after hours trading at the time of this writing.

Gamestop stock price

The meme stock of the week ATMD Digital (NYSE:HKD) continued to decline on Thursday although the stock made a late-day rally. Shares of HKD were still down by 27% or $300.00 per share during the session. The stock still closed the session at $800.00 per share with a market capitalization of $148 billion.

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Stocks Reporter

FXStreet

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