WallStreetBets favorites and meme-themed cryptocurrencies continued to see high interest from retail investors in the month of May, including GameStop .
The S&P 500 (.SPX) dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.
Michelle Chapman
The AMC Empire 25 theater reopens after COVID-19 closures, Friday, March 5, 2021, in New York. Movie theater chain AMC is selling 8.5 million shares to investment firm Mudrick Capital Management, raising $230.5 million and cashing in on the meme stock frenzy that has helped boost its stock price in recent months. AMC Entertainment Holdings Inc. said Tuesday, June 1 that it will use most of the proceeds for acquisitions of additional theater leases and to invest in its existing theaters to make them more attractive to moviegoers. (Photo by Evan Agostini/Invision/AP) June 01, 2021 - 6:56 AM
The movie theater chain AMC is raising $230.5 million through an 8.5 million share sale, cashing in on the meme stock frenzy that has sent its stock price up more than 1,100% this year.