Movie theatre operator AMC Entertainment Holdings Inc (NYSE: AMC) has been in the doldrums for quite a while primarily due to the coronavirus pandemic but recently the stock had spiked considerably owing to actions of users of the Reddit community WallStreetBets.
Yesterday, the stock soared by as high as 18% despite no news covered the company. The spike in the stock on Wednesday, however, in this regard, it is also necessary to point out that Reddit had suffered from outages. Hence, it could be argued that the users on WallStreetBets had not been able to actually get together and talk about targeting the AMC stock. It still is intriguing that AMC spiked on the same day as the GameStop Inc stock.
GameStop had been another stock that had been targeted by WallStreetBets members a few weeks ago. Hence, it is necessary to point out that it could be the right time for investors to perhaps start tracking the AMC stock and look out for any news regarding the company.