Why Meme Stock AMC Entertainment May Have an Ongoing Lease on Life
After stumbling for a few days, retail investor favorite AMC Entertainment (NYSE: AMC) showed that its glory days aren't quite behind it. The stock gained over 19% in Friday trading as Spider-Man: No Way Home began generating sizzling opening weekend sales. The superhero flick may have fueled AMC's surge, but it's also fairly certain that the stock would not have jumped so much without the continued dedication of its retail investor fans, who showed that the influence of the "little guy" on share prices persists -- particularly for this stock.
During the second week of December, it looked as if AMC's long period of overvaluation, originally driven by retail traders' attempt to generate a short squeeze, might be coming to a close. Though down considerably from its June peak, the stock was still up by around 1,200% after 2021's first 11 months. But shares dropped again after several insiders sold major parts of their stakes in the company.
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Source Fool.com
