Shares of retailers and other consumer companies ticked up as investors piled into "meme stocks."
GameStop rose by more than 20% on bets that a committee headed by Ryan Cohen, founder of online pet-store Chewy, would help the videogame seller's planned transition from bricks-and-mortar to online retail.
Shares of other meme stocks such as cinema chain AMC Entertainment also rose.
"[It's] the return of every millennial traders' favorite bet and it could last a little while longer until bearish bias for bonds returns," said Edward Moya, senior market analyst at foreign-exchange brokerage OANDA Group, in a note to clients.
Dutch grocery-store giant Ahold Delhaize said online demand drove sales growth during 2020, with Internet sales more than doubling in the U.S. market to $2.37 billion on the year.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-09-21 1713ET
