Is Now The Time To Buy Into Nvidia, AMC, Or GameStop?

These stocks are seeing high retail investor interest on social media at press time early Tuesday.

NVIDIA Corporation NVDA: The technology multinational known for graphics processing units trended as the top name on r/WallStreetBets or WSB at press time.

The company’s shares will be split 4-for-1 on Tuesday morning. David Green, a veteran trader, said he wants to “be long NVIDIA” on Monday.

“We will get a lot of action once we have earnings coming out,” said Green.

The company’s next quarterly numbers release is scheduled for August 18. As per the first-quarter numbers released in May, NVIDIA recorded earnings per share of $3.66 which beat the estimated EPS of $3.28.

NVIDIA shares have appreciated 43.9% since the year began. On Monday, the company’s shares closed 3.41% higher in the regular session at $751.19 and rose another 1.17% in the after-hours trading to $760.

See Also: How To Buy NVIDIA (NVDA) Stock

AMC Entertainment Holdings Inc AMC: The theater chain’s shares saw high interest from retail traders.On Monday, AMC announced that it had reached an agreement with real estate firm Caruso to reopen The Grove Theatre and The Americana at Brand Theatre— two of the top-grossing movie theaters in Los Angeles.

See Also: AMC Flashes Bullish Reversal Pattern: A Technical Analysis

This month, AMC decided not to vote on a previously announced $25 million share offering, which would have allowed it to raise cash as it reels under the impact of COVID-19.

AMC shares have spiked 1,533% since the year began. On Friday, AMC shares closed 0.97% lower at $34.62 in the regular session and rose nearly 0.9% in the after-hours trading.

GameStop Corporation GME: The video game retailer trended among retail investors on Monday as it outperformed the wider market. On Monday key U.S. indices such as the S&P 500 and NASDAQ ended in the red by 1.59% and 1.06% respectively.

On the same day, GameStop shares traded 2.63% higher at $173.49 in the regular session. The shares declined nearly 0.3% in the after-hours trading. 

The primary reason for the market's fall was mounting worries about rising in COVID-19 cases — particularly due to the Delta variant and its impact on global economic recovery.

At the same time, video games are increasingly popular with NewZoo estimates pointing to a CAGR of 8.7% between 2019 to 2024. NewZoo estimates gaming will cross the $200 billion mark in 2023.

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Photo: Courtesy of Nvidia