Shares of AMC Entertainment Holdings Inc. AMC and Bed Bath & Beyond Inc. BBBY soared in premarket trading Wednesday, as fellow “meme” stock GameStop Corp. GMEskyrocketed after the consumer electronics and video games seller reported a surprise fiscal fourth-quarter profit. Bed Bath’s stock shot up 11.4%, after bouncing 1.0% Tuesday off Monday’s record-low close of 81 cents, but was still headed for a sub-$1 open. AMC’s stock climbed 10.2%, after having tumbled 38.2% month to date through Tuesday. And AMC’s preferred equity units APE, known as APEs, jumped 10.8% ahead of the open, after they rallied 13.8% over the past two sessions, but were still down 28.5% month to date through Tuesday. Meanwhile, GameStop shares ran up 42.8% premarket, putting them on track to open at a 3 1/2-month high.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.