Technical analysis by Swan Financial Studios on AMC.
As Crypto Crabs, A Meme Stock Comes Back
We've speculated before that the insane rally in crypto .
Investors betting against retail trader favorites GameStop Corp. and AMC Entertainment Holdings Inc. were dealt a serious blow on Wednesday to the tune of about $673 million, according to data from financial analytics firm S3 Partners.
GameStop and AMC, two wildly popular meme stocks among members of Reddit’s WallStreetBets forum, soared more than 16% and 19% respectively as speculative assets picked up steam. Those gains pushed mark-to-market losses for short-sellers to roughly $8.1 billion for the year, according to S3 Partners data.
Bloomberg
The video-game retailer and movie-theater chain have recaptured Wall Street’s attention as analysts speculate retail traders in particular are driving the action. The hashtag #AMC500k continued to trend on Twitter, while mentions on social trading platforms like StockTwits surged.
Investors betting against GameStop Corp. (NYSE: GME) and AMC Entertainment Holdings Inc. (NYSE: AMC) have lost more than $8 billion in the year-to-date .