Why AMC Is Rising Today With GameStop
Shares of AMC Entertainment (NYSE: AMC) are rising 5% higher as of 11:05 a.m. ET on Thursday on no company-specific news, but rather in sympathy with fellow meme stock GameStop (NYSE: GME), which has been putting on a clinic of double-digit gains over several days. GameStop has been the most talked-about stock on the WallStreetBets subreddit, so that AMC is riding its coattails is not a surprise. What keeps meme stock traders animated is the hope that a massive short squeeze will send shares soaring.
What's your reaction?