What happened
On a little bit of a rollercoaster ride of a day for the stock market, meme stocks AMC Entertainment (AMC 10.12%), Carnival (CCL -1.14%), GameStop (GME 3.08%), and Sundial Growers (SNDL 3.12%) were all seeing gains.
At 11:27 a.m. EST on Friday, the stocks were up 3.6%, 2.1%, 5.1%, and 6.9%, respectively.
So what
For AMC, it could be the hopeful start to the weekend with Disney's (DIS 0.82%) Pixar studio releasing Lightyear in theaters. After Top Gun: Maverick became a solid hit following its release three weeks ago and then Jurassic World: Dominion turned in a decent result last weekend, the summer movie lineup is looking bright for the theater operator.
Carnival announced it was partnering with MGM Resorts' (MGM -0.35%) BetMGM sports and casino betting app for cruise ship passengers. The app will be available on over 50 ships across Carnival's portfolio of Carnival, Holland America, and Princess cruise lines when they're in international waters.
There was no company-specific news for either GameStop or Sundial Growers.
Now what
AMC shareholders also defeated a compensation package that included $19 million for CEO Adam Aron. He may have triggered some investors with his denial there is anything untoward going on with the theater operator's shares, despite a vocal minority claiming otherwise.
Carnival picked a winner with BetMGM, which has quickly become the No. 1 sports betting app in markets where it is active and the No. 2 app nationally.
Meme stocks, though, are going to move higher and lower regardless of whether there is news to support the action, and mere buzz in stock chat rooms or on social media can have an impact on their price.
