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New York (AFP) - Shares in GameStop, the company at the center of the "meme stock" craze that throttled Wall Street in early 2021, soared Monday in a move that recalled the earlier speculative frenzy. Shares were up more than 63 percent at $28.52 near 1730 GMT. AMC Entertainment, another "meme stock" from that period, jumped nearly 50 percent. The move, which analysts said was not based on business fundamentals, led to losses of some $1 billion from short-sellers who bet on a share price drop, CNBC reported. GameStop's surge followed the sudden reappearance on social media of "Roaring Kitty," ...
AFP
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