"It is gambling," fund manager Cole Smead said Tuesday of the reignited meme stock craze. In premarket trading on Tuesday, shares in GameStop and AMC were up 47% and 51% respectively at 6 a.m. E.T.
GameStop shares are falling on news of a share offering and preliminary quarterly results. Several people warned that an offering was a high possibility with GameStop stock soaring during the week.
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