AMC Entertainment (AMC.US) opened with yet another enormous bullish gap today as meme stocks mania continues. Shares of the movie theater chain are currently soaring roughly 10%, but at the beginning of the US session they jumped as much as 33%, bringing the company's market value above $17 billion. The scale of meme stocks mania that is taking place this week is truly extraordinary and AMC Entertainment is the brightest star this time - its stock price literally skyrocketed, adding more than 180% from Monday morning!
Analysts from BofA said that AMC has replaced GameStop as the top Reddit trend on WallStreet Bets forum. Nevertheless, stocks such as GameStop, Koss or Beyond Meat have also rallied this week. According to Bloomberg News, the four-day winning streak in AMC Entertainment stock has led to huge losses among short sellers - investors betting against AMC have reportedly lost roughly $1.3 billion. Meanwhile, some hashtags that are currently trending on Twitter include: #AMCSTRONG, #AMC500k, and #OccupyWallstreetAMC.
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AMC Entertainment (AMC.US) was the most traded equity the world on Thursday. Source: Bloomberg
AMC shares have rallied roughly 180% this week alone! Today’s intraday high stood at $36.11, but some gains have already been erased. Nevertheless, shares are still adding around 10%. Source: xStation5
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