GameStop (GME) Shares Up 20% While Other Meme Stocks Fall in 2026

On Monday, March 9, GameStop (NYSE:GME) is trending as one of today’s notable market movers. While the broader meme-stock universe is deep in the red for 2026, GME stock stands out with a year-to-date gain of 23%, powered by renewed short-squeeze speculation and growing buzz around a potential blockbuster acquisition (not currently confirmed) by CEO Ryan Cohen. The contrast with meme peers like Opendoor Technologies (NASDAQ:OPEN), SoundHound AI (NASDAQ:SOUN), and AMC Entertainment (NYSE:AMC) couldn’t be sharper.

GameStop (GME): Short Squeeze Speculation and Buyout Buzz Drive the Stock

GME stock is trading at $24.64 as of today, up 22.72% year-to-date from $20.08 at year-end 2025. That’s a meaningful move in a market where most speculative names are getting crushed.

The catalyst isn’t a single event; it’s a convergence of narratives. Reports from late January and early February, including from CNBC and the Wall Street Journal, indicated Cohen is eyeing a “very big” deal involving a publicly traded consumer company, with widespread speculation centering on eBay (NASDAQ:EBAY) as a potential target. That kind of M&A chatter has a way of lighting up retail investor communities, and this is no exception.

There’s also the compensation angle. Ryan Cohen’s compensation plan, reported in January 2026, could be worth up to $35 billion if GameStop hits certain milestones — an extraordinary figure that signals just how ambitious the transformation strategy really is. In other words, GameStop isn’t just coasting on nostalgia and Cohen is swinging for the fences.

It’s worth noting that 24/7 Wall St. explored this setup back in January, asking whether Michael Burry’s GameStop purchase could signal another meme surge. Michael Burry has been compared to Warren Buffett in the way Cohen is approaching the company’s strategic transformation, which adds a layer of credibility to the bull case that pure meme-stock narratives typically lack.

GameStop’s Sentiment Shift and Transformation

Sentiment surrounding GameStop appears to be on an upswing. Retail investor communities have renewed their interest in GME stock as the acquisition speculation and Cohen’s compensation news have gained traction, with social sentiment moving in a more bullish direction in recent weeks. The composite sentiment score now sits at 57.54, with insider activity trending toward net buying.

For balance, it’s worth noting that some analysts remain skeptical. StockStory, for example, has noted GME as a stock they keep off their radar. The traditional analyst consensus price target sits at $13.50, well below where the stock trades today. That divergence between Street targets and actual price action is part of what makes GME so difficult to analyze through a conventional lens.

GameStop’s underlying business is also in the midst of a genuine transformation. The company has been accelerating store closures, investing cash reserves in Bitcoin (CRYPTO:BTC), and shifting toward collectibles and digital gaming. Q3 FY2025 showed net income of $77.1 million and cash and securities of approximately $8.8 billion, giving Cohen a real war chest to work with if the eBay rumors prove true.

OPEN Stock Down -16.76% Year-to-Date as iBuying Struggles Continue

Opendoor Technologies, meanwhile, tells a very different story. OPEN stock is sitting at $4.88 today, down 16.76% year-to-date from $5.83 at year-end 2025. That follows a wild 2025 that saw the stock gain 317.87% over the trailing twelve months — a reminder of just how volatile this name can be.

Overall, the iBuying model continues to face pressure from a challenging housing market. Despite a strong Q4 2025 revenue beat and an aggressive “Opendoor 2.0” pivot toward AI-driven pricing and a below-market mortgage product, the path to profitability remains uncertain. A 247wallst.com article from February 22 raised concerns about OPEN stock, citing the company’s substantial net debt and a bleak housing outlook.

Opendoor Technologies did make a move to broaden its platform, acquiring Homebuyer.com in January 2026, but that hasn’t been enough to shift sentiment. Prediction markets assign only a 37.5% probability that OPEN stock finishes this week above $5, and the composite sentiment score of 38.35 reflects a broadly bearish outlook. Occasional speculative surges tied to macro headlines have faded quickly, leaving Opendoor stock firmly in the red for 2026.

Does GME Stand Alone? A Look at Other Meme Stocks in 2026

The weakness extends across the meme-stock universe. SoundHound AI shares are down 21.21% year-to-date from $9.97, with a one-week decline of 8.87% making it one of the harder-hit names in recent sessions.

AMC Entertainment stock is even more dire, down 30.13% year-to-date from $1.56 and down 64.38% over the past year. The five-year picture for AMC shares is staggering: down 98.89%, believe it or not, from $98.46 in March 2021. GameStop stock is the clear outlier in this group in 2026, and it isn’t even close.

GameStop is riding a wave of buyout speculation and short-squeeze interest while most meme stocks are fading in 2026. Whether the Cohen acquisition rumors pan out or not, GME stock has carved out a real identity as a holding company in transition, not just a Reddit darling.

That distinction may be what’s keeping it afloat while peers continue to drift lower. Watch whether today’s momentum holds into the coming days and weeks, and whether any acquisition news emerges to give the rally a more durable foundation.