(Reuters] – AMC Entertainment shares (NYSE:) GameStop Corp (NYSE: ) rose higher Friday after investors bought into the down-market meme stocks following a week-long drop in their stock prices.

AMC’s shares are up 23.1%, at $30.09, and they continue to track their largest percentage gain in a single day since July.

Market participants linked the leap to large preview numbers for “Spider-Man: No Way Home”, a movie that is due to hit cinemas this weekend.

Adam Aron, chief executive at AMC, posted an earlier tweet on Friday celebrating the film’s huge box office success.

GameStop shares were at $157.58 an increase of 9.0%.

A little over 30% of AMC’s options had to end at Friday’s close, which led to an increase in trading volume. Traders placed bets about where the stock would finish the day.

AMC traded approximately 1 million contracts by 1300 GMT (1800 GMT) which is three times what was expected. According to Trade Alert data, options volume reached 1.6 million for the day. This makes it the busiest day of AMC options for about four months.

Bullish sentiment prevailed in trading, as about 60% volume was set to expire before the close of each session according to Trade Alert.

“It’s a classic meme stock rally. There’s some enthusiasm about ‘Spider-Man’ pushing the stock higher,” said Steve Sosnick, chief strategist at Interactive Brokers (NASDAQ:). The fact that there is an expiration today certainly helps.

The rise in both stocks was due in part to the coordination of individual traders in online chatrooms. AMC is currently up by around 1,300% while GameStop has gained approximately 7420%.

AMC shares fell as high as 54.7% between their intraday peak at $45.95 on November 8 and the lowest low of $20.80 Dec. 14.

GameStop stock shares dropped 49% from the intraday peak at $255.69, to their most recent low of $129.50 recorded on December 14.