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The video game retailer’s stock soared hours after a Reddit post by stocks influencer Keith Gill ... Shares of AMC Entertainment were up nearly 28% by 6.47 a.m. ET Monday. ... For more CNN news ...
AMC, another meme stock, jumped 75% Monday, while Reddit traded 9% higher. ... Also known as DeepF-----Value on Reddit, Gill drew an army of day traders who cheered each other on and piled into ...
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.
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
The stock surged 25% on the news. Typically, investors would expect the stock price of a company issuing new shares — which dilute the value of current holdings — to decline after a stock sale.
A meme stock is a stock that gains popularity among retail investors through social media. [1] [2] [3] The popularity of meme stocks is generally based on internet memes shared among traders, [4] on platforms such as Reddit 's r/wallstreetbets. [5] Investors in such stocks are often young and inexperienced investors. [6]
The exact reasons for why meme stocks are again on the rise in 2024 are hard to pinpoint. When the initial frenzy began in 2020 and 2021, people were largely at home due to the pandemic and had ...
AMC Entertainment ( AMC) is cashing in on the revival of the meme stock trade. The struggling theater chain raised $250 million of "new equity capital" through the sale of 72.5 million shares on ...