GameStop is up 27% to lead the action of memes in an otherwise boring market

The King of GameStop meme shares rallied 27% on Tuesday as some retail investors returned in full force despite a market that was otherwise quiet.

The video game retailer rose to 36.5%, to $ 225 per piece, in a significant trading volume. More than 14 million shares changed hands, seven times the 30-day average, according to FactSet.

Other meme values ​​also appeared.

Shares of AMC Entertainment jumped 20.3%. According to the broker’s website, the movie chain was the most active action of Fidelity’s trading platform from 2:30 p.m. ET.

Clover Health rose about 10%. Bed Bath & Beyond rose more than 4%. Robinhood, which has also earned meme status, advanced 9% on Tuesday with no apparent news.

Outside of the group favored by retail investors, the stock market seemed deaf, with most investors eagerly awaiting a key Federal Reserve summit on Thursday and Friday. The S&P 500 closed the session on Tuesday up 0.2%.

The overall volume was light on Tuesday, with the SPDR S&P 500 ETF trading 30 million shares, about half of its 30-day average, according to FactSet.

The Fed’s Jackson Hole symposium is expected to be market-oriented, as central bankers could detail their plans to reduce monetary stimulus. The Fed has begun talks to withdraw its $ 120 billion-a-month minimum bond purchase program later this year.

Short interest in these meme stocks remained high. According to S3 Partners, about 28% of AMC’s floating shares are sold short-term, compared to an average of 5% short-term interest on a typical U.S. stock. For GameStop, short interest has dropped dramatically, to about 10%, from more than 100% in January, to match the mania of meme actions.