8 Lies That Have Fueled the AMC Entertainment Pump-and-Dump Scheme
There's arguably been no hotter stock on the planet in 2021 than movie theater chain AMC Entertainment (NYSE: AMC). It's gone from teetering on the brink of bankruptcy in early January to being valued at $23 billion, as of business close on July 7.
At the heart of this rally are AMC's passionate army of retail investors, collectively known as "apes" -- an homage to Rise of the Planet of the Apes, where leader Caesar infers that apes are stronger together. This might sound like a feel-good story whereby retail is finally exacting its revenge on Wall Street, but the reality is that AMC has become a battleground pump-and-dump scheme driven higher almost entirely by the misinformation and lies spread by its retail investors.
While I've previously covered some aspects of the misinformation campaign used as the foundation for the rally in AMC's stock, below are the eight most pervasive lies that have fueled this pump-and-dump scheme.
Source Fool.com
