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AMC, another meme stock, jumped 75% Monday, while Reddit traded 9% higher. Roaring Kitty, whose legal name is Keith Gill, is a former marketer for Massachusetts Mutual Life Insurance.
r/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading. It has become notable for its colorful and profane jargon, aggressive trading strategies, and for playing a major role in the GameStop short squeeze that caused losses for some US firms and short sellers in a few days in early 2021.
GameStop short squeeze. In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares ...
The video game retailer’s stock soared hours after a Reddit post by stocks influencer Keith Gill ... Shares of AMC Entertainment were up nearly 28% by 6.47 a.m. ET Monday. ... For more CNN news ...
The rally spread to other highly shorted stocks including AMC as Reddit users banded together to squeeze bearish hedge funds, costing them billions in losses and drawing scrutiny from U.S. regulators.
Shares of AMC surged 24% in premarket trading Monday. The movie theater chain climbed 48% in May amid the revival of meme stock craze. Reddit’s stock gained 5% Monday. ... In Other News.
The exact reasons for why meme stocks are again on the rise in 2024 are hard to pinpoint. When the initial frenzy began in 2020 and 2021, people were largely at home due to the pandemic and had ...
AMC Entertainment Holdings, Inc. (NYSE: AMC) shares have seen wild swings in a Reddit-driven rally, and the meme stock could be in for a big correction, according to an analyst at LightShed Partners.