Why AMC Stock Popped 10% Today
After what has become an increasingly rare down day for AMC Entertainment (NYSE: AMC) stock yesterday, Thursday's session saw a rebound in the popular meme stock. After dropping 6.5% Wednesday, AMC shares popped 10% in today's session, marking the stock's second-highest closing price ever.
Yesterday was the start of shareholder voting for the company's latest attempt to take advantage of its newly found popularity on Reddit online forums. CEO Adam Aron took to social media recently, asking retail investors in the stock to approve another 25 million shares to be available for sale. Voting began yesterday leading up to the company's shareholder meeting on July 29, 2021.
Source Fool.com
