The backing of the popular Wall Street Bets Reddit forum, coupled with a $917 million lifeline, has sent AMC’s stock price from $3 to $20 in days
In a matter of days, AMC Theatres has moved from its death bed to a penthouse suite, as the nation’s largest cinema chain continued its recent Wall Street surge on Wednesday, with its stock price skyrocketing 301%. Industry experts say there’s little reason for AMC executives to be concerned about the sustainability of the sudden spike.
What’s behind the monumental move? AMC now finds itself at the center of a trading “revolution,” according to Gerber Kawasaki financial advisor Brett Sifling, thanks to Reddit users on the popular Wall Street Bets forum throwing their collective support behind the theater chain.