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AMC, another meme stock, jumped 75% Monday, while Reddit traded 9% higher. Roaring Kitty, whose legal name is Keith Gill, is a former marketer for Massachusetts Mutual Life Insurance.
r/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading. It has become notable for its colorful and profane jargon, aggressive trading strategies, and for playing a major role in the GameStop short squeeze that caused losses for some US firms and short sellers in a few days in early 2021.
GameStop stock surged as a Reddit user linked with its biggest booster appeared to reveal a new bold bet on the video game retailer late ... AMC shares gained 11% to close at $4.81 each on Monday.
Shares of AMC surged 24% in premarket trading Monday. The movie theater chain climbed 48% in May amid the revival of meme stock craze. Reddit’s stock gained 5% Monday.
A meme stock is a stock that gains popularity among retail investors through social media. The popularity of meme stocks is generally based on internet memes shared among traders, on platforms such as Reddit's r/wallstreetbets. Investors in such stocks are often young and inexperienced investors.
This caused the GameStop stock price to rise from under $14 to over $48, though Gill's post did not mention GameStop. GameStop benefitted from this by issuing more stock at over $20, raising over $900,000,000. Other stocks such as AMC, BlackBerry, Virgin Galactic also experienced major increases during this time period. Reactions
GameStop shares surged more than 20% higher on Monday after Gill's profile on Reddit returned and displayed a post showing a $116 million bet on the company's stock after a three-year gap.. He ...
GameStop and AMC weren't the only stocks caught up in this week's meme craze. While shares of the short-lived rally's flag bearers continued to unravel Friday, smaller meme-related equities ended ...