Meme Stocks Set To Extend Gains Tuesday

By Dhirendra Tripathi

Investing.com — Meme stocks, led by AMC Entertainment (NYSE:AMC), looked set to extend their gains for the second consecutive session rising 2%-5% in premarket Tuesday.

The favorite of the Reddit gang, AMC, was up more than 4% while GameStop (NYSE:GME) and BlackBerry (NYSE:BB) gained approximately 2% and 3%, respectively.

Meme stocks have defied the naysayers consistently over the last six months and while GameStop and Blackberry (TSX:BB) may be significantly off their year’s highs, it’s not been a flash in the pan.

In the process, the stocks have made new highs several times and created wealth for many even as their books may not yet deserve those valuations.