Finance

AMC Entertainment stock shoots up 40% as Reddit traders double down

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Shares of AMC Entertainment soared another 40% on Thursday as speculative trading activity skyrocketed in the movie theater chain’s stock among Reddit-obsessed day traders.

The stock surged as much as 47% in afternoon trading Thursday, pushing its week-to-date advance to a whopping 135%.

AMC has overtaken GameStop to become the most-loved stock in the infamous WallStreetBets Reddit forum, according to Bank of America’s analysts of stock mentions in the platform.

With its massive rally on Thursday, AMC has diverged from its meme stock peer GameStop, which made Wall Street history in January with its 400% short squeeze in a single week. Shares of GameStop were up just 0.6% Thursday after…



Source cnbc.com

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