Wednesday’s session saw meteoric movements in some stock prices as Koss Corporation (KOSS) skyrocket 480%, AMC Entertainment surged 301%, Express Inc (EXPR) jump 214% among market movers. We have highlighted below some of the reasons for the price movements.
Koss Corporation (KOSS)
Koss rose 480% following interests from retail investors who have organized themselves on social media. The stock was closed Tuesday around $10, began Wednesday’s session at $17 to close $58.
AMC Entertainment (AMC)
AMC’s meteoric rise continued as there was no fundamental justification to the price action. The Wall Street Journal described the recent moves as a war that has broken out between professionals losing billions “and the individual investors jeering at them on social media.” Its price surged about 301% from its previous day’s closing around $4 to close Wednesday’s session at $19.90.
Express Inc. (EXPR)
American fashion retailer saw its stock skyrocket 214.14% amid momentum as Reddit-inspired retail investors continue to pour money into more obscure corners of the market. The share price had close $3.04 to close Wednesday at $9.55
GameStop Corp. (GME)
GameStop shares traded higher on Wednesday as the stock grew more than 134%. Driven by retail investors, it’s share price rose from the previous day closing around $147 to close trading at $347. GME has risen more than 700% year-date.
Fossil Group Inc (FOSL)
Fossil Group shares traded more around 87% high without any company-specific news to justify the price action. The stock could be seeing increased interest from investors with high short interest. It started the day’s trading at $12.74 to close $23.66