What You Need To Know Now That Meme Stocks Are Back

The stock market is in the thick of another meme stock frenzy, sparked by Sunday night's online return of one of the key figures of the 2020 and 2021 craze that sent GameStop (GME) shares to record highs.
GameStop has been one of the biggest winners of the frenzy this week, along with AMC Entertainment (AMC). Those and other meme stocks have shot higher following the online return Sunday of one of the prominent drivers of the earlier meme craze.

However, GameStop, AMC, and many other meme stocks weren't able to sustain those levels for long and embarked on an extended retreat. Despite this week's surge, they haven't reclaimed their 2021 highs.
GameStop's stock price has gained 179% over the past two sessions, though at $48.75 it's still well below its record of more than $85 in January 2021.

AMC's stock closed Tuesday at $6.85 and has risen 135% since Friday, but it's a far cry from its all-time highs above $300 set in June 2021. AMC shares aren't even close to their 52-week high.