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AMC Entertainment Shares Defy Gravity; Up 45% And Climbing Today As Chain Passes $12 Billion Market Cap

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deadline.com
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AMC Entertainment shares have more than doubled this week with a 45% surge — and still rising — on Thursday that catapulted the exhibitor past a $12 billion market capitalization.

Retail traders on social media swore they’d keep buying, and not sell.AMC CEO Adam Aron has said that over three million individual investors, many Redditors and Robin Hood traders, now own the majority of the stock since Wanda Group sold the last of its holdings this month.

He’s actively embraced them: “They own AMC. We work for them. I work for them,” he said during a May 7 conference call.Wall Street analysts who try to correlate stock price with a company fundamental business and prospects have been left in the dust.

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