Why AMC Entertainment Stock Was Popping Today
Shares of AMC Entertainment Holdings (NYSE: AMC) were climbing today as meme stocks came back into vogue. Traders on Reddit's WallStreetBets (WSB) once again piled into meme stocks including Bed Bath & Beyond, GameStop, and AMC Entertainment, trying to execute a short squeeze. AMC had been a big winner in the original rally that started January 2021, rising more than 2,000% at one point.
Today, the stock was up 17% as of 12:36 p.m. ET.
A rally that started Friday in meme stocks has carried over to today after AMC shares gained 19% on Friday in high-volume trading. Like the surge last year, this one was engineered by traders on WallStreetBets. It also follows a second-quarter earnings report last week that shows AMC stock recovering from the depths of the pandemic.
Source Fool.com
