The meme stocks are even back in favor and one of the stocks to have benefitted immensely is AMC Entertainment Holdings (NYSE:AMC). On Friday the stock declined but ended the week with gains of as much as 116%.
That being said, it is also necessary to point out that the gains recorded by the AMC stock for the week are its biggest since January. However, in this regard, it is also necessary to add that other ‘meme stocks’ like GameStop have also been on the move in recent days.
Earlier on in the year, investors from the Reddit community WallStreetBets had been responsible for short squeezes in beaten-down stocks. That had led to enormous gains. AMC is one of the stocks that had been targeted at the time. The trend seemed to have cooled off but it seems that the investors have returned again after the crash in the crypto markets.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.