GameStop leads meme stock rally

Meme stocks are rising before the opening bell after GameStop, one of the most heavily traded off-brand stocks during the pandemic, posted a surprise profit for the fourth quarter. Rather than a per-share loss of 16 cents as Wall Street had expected, the video game retailer reported a profit of 16 cents per share, or $48.2 million in all. During the pandemic, GameStop was a member of a group of beat-down stocks that drew smaller investors in huge numbers two years ago. Shares of GameStop are up 47% in premarket trading Wednesday. Shares of AMC jumped 9%, Bed Bath & Beyond climbed more than 11%. Both are considered meme stocks.