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AMC Entertainment Holdings(NYSE:AMC) stock has been on an epic run this week. The share price is up 266% over the past two weeks and up 1,732% since the start of the year. That performance is better than most other meme stocks and is even better than most major cryptocurrencies.
Why invest in a bleeding-edge new digital technology when you can simply bet on a rebound in cinemas? However, investors aren’t just betting on the revival of entertainment here. They’re also deploying a coordinated short-squeeze strategy that has worked so well over the course of the pandemic.
Author Bio
Keith Noonan covers technology, entertainment, and other fields.
AMC Entertainment Holdings (NYSE:AMC) stock skyrocketed 95% on Wednesday to close at roughly $62.55 per share after the company published an update for shareholders and unveiled a new outreach initiative for retail investors. CEO Adam Aron appears to be leaning into the company s meme stock status and is actively trying to court retail investors.
Excitement surrounding AMC Investor Connect, which offers perks including free popcorn and communication with Aron, helped drive the stock to an all-time high and its market capitalization to a record $33 billion. AMC s explosive jump appears to have also triggered big gains for other meme stocks, including