(Reuters) -Shares of GameStop and cinema operator AMC Entertainment rallied to their highest levels in months on Wednesday, with some market-watchers saying the recent surge was forcing bearish investors to unwind their bets against the video game retailer.
GameStop shares surged 15.8% to $242.56, around its highest level since mid-March, while AMC shares shot up 19.2% to $19.56, the highest since Jan. 27. CFRA on Wednesday raised its price target for AMC shares to $18 from $2.50.
Already a subscriber? Log in
Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.
Cancel anytime. Ad-free. Unlimited access with perks.
