Usually, the concept of meme stock refers to stocks that are rapidly growing in value due to the collective efforts of users of social networks such as Reddit. AMC can call itself a meme stock because, at the end of the fourth quarter of 2020, AMC’s revenue fell by 88.8%, however, Reddit users have given new life to the company. Today, the price indicators of the company have risen by 5%, representing a $2.16 gain.
Despite the company’s unsuccessful September, where the company has lost 19% of the valuation of their share, has quickly revived after providing beating estimates second-quarter report. The sales of the company during the second-quarter have reached $444.7 million against $18.9 million a year ago. It’s definitely clear that the company will soar for a long time, moreover, the latest agreement with Mudrick Capital that will acquire 8.5 million shares at $27.15 per share inspires confidence.