Why AMC Entertainment Stock Is on the Rise Today
Shares of AMC Entertainment Holdings (NYSE: AMC) were rising 3.4% in morning trading Friday as meme stock traders rallied around their most popular shares, including GameStop and Bed Bath & Beyond.
The video game retailer seems to be the catalyst today (the home goods retailer's earnings report was yesterday's rallying point) after GameStop announced some definitive news on its entry into non-fungible tokens (NFTs). The retailer said it would be launching an NFT exchange for gamers by the end of the year.
While the move has been long expected, the realization of those plans, even if they're still in their early stages, was enough to send GameStop's shares soaring 10%.
Source Fool.com
