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AMC Theatres Shares Just Plunged More Than 50%. What’s Next for Stocks Roiled by Reddit?

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variety.com
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AMC Entertainment’s shares took a steep tumble Thursday, not yet a coda to the frenetic activity around the stock market fueled by users on Reddit, TikTok, Robinhood and other social media platforms.AMC’s stock was down more than 50% on Thursday afternoon, one day after it surged more than 300% and skyrocketed to $20.31 per share.

The company had not seen such levels of optimism in over a year, particularly because the pandemic has devastated the theater business and it’s still unclear when the public will feel comfortable returning to the movies.

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