Investing.com — U.S. stock markets opened mixed on Monday in febrile mood, with signs of increasing investor mania in a handful of stocks while the broader market cooled off amid fears that U.S. and global growth estimates may have to be revised down due to lingering pandemic effects.
Early trading was dominated by what appeared to be driven by retail investor-driven surges in a number of stocks which had been driven to the verge of bankruptcy by the pandemic.
GameStop (NYSE:GME) stock surged another 39% after its 51% rise on Friday, when the momentum of buying generated by retail investors squeezed hedge fund Citron Research and other short-sellers.
Equally, AMC Entertainment (NYSE:AMC) stock soared 24% after the embattled movie theater operator said it had raised over $900 million in fresh debt and equity, a recapitalization that effectively removes any near-term threat of Chapter 11.
Finally, apparel retailer Express skyrocketed 73%, adding to gains it made after securing a liquidity lifeline earlier this month.