What's Going On With GameStop And AMC Today?

GameStop Corp GME and AMC Entertainment Holdings Inc AMC surged higher Tuesday morning before paring those gains, as the troop of retail traders who refer to themselves as "apes" continue to push the stocks higher.

What Happened: The pair of meme stocks have been the top two targets for short squeezes among retail traders on the Subreddit r/wallstreetbets since the start of 2021.

The stocks rocketed higher at the beginning of the year and short interest fell dramatically, however, short interest began ticking higher again in recent weeks.

Over the last week, AMC Entertainment has held the top-trending spot as the stock surged more than 80% over a five-day period.

GameStop increased by 33.49% over a five-day period, but it's taking the lead today as investors anticipate the company's quarterly earnings release.

GameStop is set to report earnings on Wednesday after the market closes.

At last check Tuesday, GameStop was up 3% at $289.90 and AMC Entertainment was down 0.6% at $54.50.

Photo by Mike Mozart from Flickr.