![]() ![]() Meme stock proponents have a couple of primary motivations for driving up the prices of failing companies: Members posted comments to hype up endangered companies, ultimately getting masses to buy shares of their stock. The influx of meme stock trades originated from the online r/WallStreetBets forum. What specifically caused the AMC rally in 2021? ![]() Unlike GameStop, AMC has opted to sell new stock shares, adding more cash to its balance sheet.AMC stock prices rose about 2,300% from the end of 2020 to June 4, 2021.In January, WallStreetBets pumped up interest in AMC, taking its price from $2.06 January 6 to closing at $19.90 on January 27.While GameStop (GME) is the flagship meme stock so far this year, AMC Entertainment Holdings has been along for the ride.Meme stocks are driven to unusual trading movements due to social media users’ encouragement to buy the stock.Still, $1 billion in equity and debt investments kept AMC afloat until the meme stock frenzy hit in January 2021. ![]() Pandemic lockdowns were not kind to AMC, leading CEO Adam Aron to warn of impending bankruptcy. They operate 10,500 screens in 950 theatres. (NYSE:AMC) is one of the top so-called “meme stocks” that Reddit users pushed to record highs in the first months of the year.ĪMC operates the largest chain of movie theatres in Europe, the United States, and worldwide. The meme stock craze of 2021 has brought wild volatility for several struggling companies. ![]()
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