Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

BRIDGELINE DIGITAL, INC.

(BLIN)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

As meme stock momentum fades, AMC, GameStop fall

07/07/2021 | 02:24pm EDT
FILE PHOTO: A GameStop store is seen in the Jackson Heights neighborhood of New York City

By Sinéad Carew

(Reuters) - Shares in so-called meme stocks with a following among retail investors lost ground on Wednesday, with AMC Entertainment shares down 8.1%, on track for their fourth straight day of declines, and GameStop Corp falling 4.9%.

AMC, which fell almost 12% in the previous three sessions, hit a record high of $72.62 in early June as members of social media platforms including Twitter and Reddit's WallStreetBets urged each other to buy the stock.

The cinema operator, which on Tuesday scrapped a shareholder approval request for an increase in the number of shares outstanding, was trading at $45.91 after breaching its 30-day moving average.

AMC was still up about 2254% year-to-date but well below its 3624% peak gain.

Shares in video game retailer GameStop traded at $189.79, compared with its Jan. 28 record of $483 when investors betting against the stock were forced to buy it to cover their bets as retail investors piled in.

GameStop shares have steadily declined since it announced quarterly results and flagged upcoming share sales in early June. It was last up 906% for the year-so-far compared with a roughly 2464% peak gain.

"The momentum is fading and the enthusiasm is fading," said Michael O'Rourke, chief market strategist at JonesTrading in Stamford, Connecticut. "They've been pushed well beyond the appropriate fundamental valuation levels so we're starting to see some air come out."

Some other stocks such as Newegg Commerce, up 120.0%, and Data Storage Corp, up 39.0%, were in demand on Wednesday as they took their turn in the spotlight on forums such as Stocktwits.

But other recent retail favorites were losing steam rapidly with Bsquare down 29.8% and Orbsat Corp down 12.1%.

"Yes people have made money but I also think there's a lot of retail investors that have lost a lot of money being involved in those names," said O'Rourke. "The most recent rally has run it's course. I cannot predict the future but I do think the longer this goes on the idea becomes less compelling."

Meanwhile on Reddit's WallStreetBets forum, some investors sounded anxious

"Memes pls fly," wrote user Twoverybigwords00.

(Reporting By Sinéad Carew; Editing by Sonya Hepinstall; Editing by Sonya Hepinstall)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BRIDGELINE DIGITAL, INC. -4.30% 4.23 Delayed Quote.63.95%
BSQUARE CORPORATION -1.56% 2.52 Delayed Quote.65.79%
DATA STORAGE CORPORATION -2.35% 4.58 Delayed Quote.-18.79%
NEWEGG COMMERCE, INC. -3.97% 14.77 Delayed Quote.255.90%
ORBSAT CORP. 2.34% 5.24 Delayed Quote.0.00%
All news about BRIDGELINE DIGITAL, INC.
09/22Top Premarket Gainers
MT
09/16BRIDGELINE DIGITAL, INC. : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
09/13BRIDGELINE DIGITAL, INC. : Regulation FD Disclosure, Financial Statements and Exhibits (fo..
AQ
09/10Bridgeline CEO Ari Kahn to Speak at Taglich Brothers Annual Investment Conference
GL
09/10BRIDGELINE DIGITAL : AMENDED AND RESTATED BYLAWS (Form 8-K)
PU
09/10BRIDGELINE DIGITAL, INC. : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year..
AQ
09/09BRIDGELINE DIGITAL : TikaPac Agency Slices Prospecting Time in Half with WooRank by Bridge..
AQ
08/30BRIDGELINE DIGITAL : Expands Investment in BigCommerce Partnership
AQ
08/24BRIDGELINE DIGITAL : Five Top Global Manufacturers Build Growth with Hawksearch by Bridgel..
AQ
08/24Five Global Manufacturers Selects Bridgeline Digital, Inc.'s Hawksearch Software to Dri..
CI
More news
Financials (USD)
Sales 2021 13,1 M - -
Net income 2021 -5,36 M - -
Net Debt 2021 - - -
P/E ratio 2021 -4,70x
Yield 2021 -
Capitalization 35,5 M 35,5 M -
Capi. / Sales 2021 2,72x
Capi. / Sales 2022 1,99x
Nbr of Employees 39
Free-Float 99,2%
Chart BRIDGELINE DIGITAL, INC.
Duration : Period :
Bridgeline Digital, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends BRIDGELINE DIGITAL, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 4,23 $
Average target price 6,50 $
Spread / Average Target 53,7%
EPS Revisions
Managers and Directors
Roger Kahn President, Chief Executive Officer & Director
Mark G. Downey Chief Financial Officer, Treasurer & Executive VP
Joni Kahn Chairman
JIm Voss Executive Vice President-Technology
Kenneth J. Galaznik Independent Director
Sector and Competitors
1st jan.Capi. (M$)
BRIDGELINE DIGITAL, INC.63.95%36
ORACLE CORPORATION39.03%245 868
SAP SE13.08%167 462
INTUIT INC.52.14%157 825
SERVICENOW, INC.21.05%132 019
DOCUSIGN, INC.22.52%53 580