city Phoenix pandemic 2020 shootings city Phoenix

AMC Shares Are on a Wild Reddit Investor Fueled Ride, Will It Last?

Reading now: 373
variety.com

GameStop earlier in the year. On Reddit, investors were talking up the distressed retailer and the AMC theater chain. Hawn, a 50­-year-­old network engineer from Phoenix, bought 50 shares of AMC, seeing it as a chance to fight back against the hedge funds on Wall Street.“Every dollar that I spend is making them hurt a little more,” he says. “I’m OK with that.

I re­member what happened in 2008 all too well.”Reddit traders like Hawn have turbocharged AMC’s stock, vaulting it from $2 a share in January to nearly $75 last week. (The stock closed at $55 on June 7.) The surge has allowed AMC to boost its liquidity and put it in a better position to survive the pandemic, which caused it to lose more than $4.5 billion in 2020.

Read more on variety.com
The website starsalert.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA