- NYSE:GME gained 2.26% during Monday’s trading session.
- GameStop could be turning a corner after a post-split lull.
- AMC also jumps to start the week ahead of its quarterly earnings call.
NYSE:GME saw its recent win streak extended to four straight sessions as the original meme stock looks to shake off a bumpy end to July. On Monday, shares of GME rose by 2.26% and closed the first trading session of August at $34.78. After posting the best month of trading since 2020, stocks dropped lower into the closing bell to begin the month. All three major indices slipped during a day where stocks spent most of the session seeking direction. Overall, the Dow Jones fell by 46 basis points, while the S&P 500 and the NASDAQ edged lower by 0.28% and 0.18% respectively.
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GameStop’s recent win streak could be a sign that the stock is finally turning a corner. Shares of GameStop tumbled following the 4 for 1 stock split that was executed at the end of July. GameStop also launched its NFT Marketplace during the month to mostly mixed sentiment. The crypti and NFT industries are currently in a lull and NFT trading volume has been at its lowest point in months. Still, with the marketplace now open, another step in GameStop’s ongoing digital transformation is now complete.
Gamestop stock price
GameStop’s partner in crime, AMC (NYSE:AMC) was also trading higher on Monday. Shares of AMC gained 5.56% on Monday, as the stock reclaimed the $15.00 price level. Following another strong weekend at the box office from films like Super-Pets and the Minions: Rise of Gru, AMC seems to be heading into its earnings call on Thursday with some building momentum.
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