GameStop Corp. share GME,
rose 13% in early trading on Friday and seemed poised for another day of high-volume activity. Shares of the video game retailer are gaining 168% a week after a move that began Wednesday afternoon and continued through Thursday. In the absence of moving news, the move is re-attributed to Reddit’s WallStreetBets forum activity. Other meme actions ravaged by a commercial frenzy in January were also active. AMC Entertainment Holdings Inc. AMC,
fell 0.2%, BlackBerry Ltd. BB,
fell 2.4%, NAKE Brand Group Ltd. NAKD,
fell 4% and Koss Corp. KOSS,
fell 8%. So far, GameStop has gained 477%, while AMC has risen 291%, after investors on this Reddit forum tried to create a brief reduction in both shares in January. Unusual moves sparked a congressional committee hearing last week in which executives from Reddit, the commercial app Robinhood, Citadel and Melvin Capital answered questions, alongside individual investor Keith Gill, also known as Roaring Kitty