![]() STAR MAX Photo: 4/16/21 An AMC Theater is seen on 2nd Avenue in Manhattan in New York City.īut aside from benefitting from stock forum popularity, AMC shares have also recently seen tailwinds from the broader economic reopening taking place coming out of the pandemic. Photo by: STRF/STAR MAX/IPx 2021 4/16/21 AMC Theaters CEO says stock is "Under Attack" from short sellers. Interest in AMC shares also jumped on Twitter, and the hashtag #AMCARMY trended on the social media platform Wednesday afternoon. The stock has seen a resurgence as interest among retail investors on the Reddit forum r/wallstreetbets, who have bought shares in the stock en masse to force short-sellers to cover their positions and push the stock still higher. By the end of the trading day, the stock was up 95% to $62.55.ĪMC's share price rally added to a gain of nearly 23% on Tuesday, and the stock closed higher for the sixth time in seven sessions. The swift surge on Wednesday also triggered multiple volatility halts in shares on the New York Stock Exchange. The company's market capitalization broke above $30 billion following the rise, bringing it above GameStop's ( GME) market value of approximately $20 billion. Thanks so much.Shares of AMC Entertainment Holdings ( AMC) rallied again on Wednesday, with shares more than doubling in value as investors on Reddit and other social media platforms piled into the meme stock.ĪMC's stock rose as much as 127% at session highs to trade at $72.62 per share around 1:15 p.m. Well, we'll have to see if the fundamentals continue to support these stories over here. Now, I do want to mention though, if we look at fidelity orders by retail traders, guess which ones are the top tickers that retail traders are buying right now? APE, AMC, Bed Bath & Beyond, More buys than sells. So it's now back to the fundamentals when you're looking at these stocks. ![]() Wedbush Securities talking about Bed Bath & Beyond risking bankruptcy. We saw reports that the vendors are halting shipments to the company because they're not getting paid. Ryan Cohen is still selling his shares and the drop that we've seen there.īut now back to fundamentals, back to the basics of a company like Bed Bath & Beyond. And part of this, of course, has to do with Bed Bath & Beyond. And you have to kind of think to yourself, is this meme mania a little bit fizzling? There's a lot of volatility in it right now. And so if we take a look at the charts there, you can see that Bed Bath & Beyond is down. But GameStop, Bed Bath & Beyond is still very much a story. Obviously what's happening with AMC, with the APE shares is not at all something that other types of meme stocks are thinking about today as well. I'm wondering if there's any other meme stock movement. So it's about equal where the price was at on Friday. So if you had purchased AMC at around $18, you would be making a profit on that.īut right now, we are watching APE shares that are down at around $8, yeah, $8.10 a share. And we know that AMC stock on Friday closed at $18.02 a share. So that would be a combination of about $21. So if you look at where AMC is trading, AMC is trading at around $11 a share. Now earlier this morning, we had seen that those APE shares had gone up to more than $10 a share. And the combination of those is the value that you want to look at. So you really have to think about it this way, you have to think about it as Adam Aron had said, you have to think about it as the APE shares, and then you have to think about it as the AMC shares. Much to their chagrin, we've created these preferred stock. And there are a lot of people out there who wish AMC harm. ![]() And if it's good for our shareholders, it's bad for the people who wish us harm. That certainly is good for our shareholders. Number one, it takes survival risk off the table in the near term. And what that does for our shareholders is many things. And as a reminder, here's how AMC CEO, Adam Aron, described it to our morning team on August 8th.ĪDAM ARON: And now that we have a new security, a new class of security in preferred stock, that gives AMC the ability to raise capital at will. ![]() Recall that what we're talking about here with APE is the preferred stock units that are issued to AMC holders as a special dividend. You could see a red across the board, although there's a lot to kind of unpack here. AMC trading down as the theater company and meme stock officially hit the street with it's APE shares. But of course, plenty of stocks catching attention on this Monday morning. Yahoo Finance's Ines Ferré discusses how AMC's new APE shares are affecting meme stocks on Monday.
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