Read more about Retail investors in India, South Korea join meme craze for AMC stock on Business Standard. AMC Entertainment skyrocketed as much as 127% on Wednesday, extending its total gains for the year to more than 3,000% and pushing its market capitalization briefly above $33 billion.
By Syndicated Content
Jun 3, 2021 | 3:21 AM
(Reuters) â Shares of AMC Entertainment Holdings Inc jumped 12.7% in premarket trading on Thursday, extending a social-media driven rally that has lifted the movie theater operatorâs stock by more than 500% since mid-May.
AMCâs stock nearly doubled to $62.55 on Wednesday and was last up at about $70.50 in early deals.
Shares of other so-called âmeme stocksâ, which have attracted attention from individual investors on online trading platforms, were also up. Koss Corp and BlackBerry Ltd rose 2.9% and 17.0%, respectively.
(Reporting by Sagarika Jaisinghani in Bengaluru; Editing by Sriraj Kalluvila) ); } return false; }); $( #comments .commentlist .comment-content a ).attr( target , blank );
Tilray Inc. (NASDAQ:TLRY) and
Sundial Growers Inc. (NASDAQ:SNDL) recorded double-digit gains in Wednesday’s regular trading session amid high retail-investor interest in the two Canada-based cannabis companies.
What Happened: Shares of Tilray gained 11.9% and Sundial Growers’ shares rose 13% in Wednesday’s trading after e-commerce giant
Amazon.com Inc. (NASDAQ:AMZN) said it supports the federal legalization of marijuana and will drop marijuana-testing requirements for some of its workers.
Optimism that cannabis reforms will make it easier for companies to do business also boosted these stocks.
Both the companies are now seeing renewed interest from retail investors. Tilray was the fourth-most mentioned stock on Reddit’s r/WallStreetBets forum over the past 24 hours with 739 mentions, while Sundial was at the seventh position with 546 mentions, data from Quiver Quantitative showed.
Theater chain operator AMC Entertainment Holdings Inc (AMC.N) said on Thursday it may sell up to 12 million of its shares, following a steep rally in its stock.
The money-losing movie-theater chain is among the five most-traded U.S. stocks over the past week on both Vested Finance and Stockal, two India-focused platforms for retail investors to buy U.S. equities.