“F*CK THE SHORTS. This stock has so much short interest it is the next GME [GameStop] to squeeze,” Reddit user PlatinumHandz wrote of AMC Tuesday. “AMC to the moon boys!” wrote Twitter user Philo488 Wednesday, alongside some rocket emojis. “Do not sell. Let’s bankrupt another ...
Nokia, BlackBerry, and Bed Bath & Beyond are also seeing stock rises that are likely linked to this Reddit group. Nokia stock is currently trading up 63 percent, with BlackBerry up 17 percent, and Bed Bath & Beyond up 35 percent. The mob of investors are taking part in this incredibly ...
The grouppreviously targeted GameStopwith an eye towards making gains while also sinking hedge fund Melvin Capital Management, which was betting against (a.k.a. shorting) the stock. Tesla founder Elon Musk (a.k.a. "Papa Elon" in the group's slang) egged on the group Tuesday, tweeting "...
There was the threat of regulators becoming heavy-handed about internet chat rooms to consider and the likelihood that Reddit vs Wall Street would be a fad. The amorphous group of Reddit users had no leader, and they were glued together only by stock price momentum. There was even...
a "mother of all short squeezes" that will bump AMC's stock price to $1,000 per share. However, that share price would put AMC's market cap at $513 billion, a figure that is eight times what the entire theatrical industry made in global revenue before the pandemic, Handler explained....
RELATED:GameStop stock explained: Here’s what short selling is and why it’s shaking up Wall Street In the stock market, a short seller is an investor who aims to profit as the price of a company’s shares decrease. The profit is limited to how far the share price is from ...
Meanwhile, Google searches for “invest” and “buy stocks” have fallen back to pre-pandemic levels, in what DataTrek co-founder Nicholas Colas said is an ominous sign for the meme stock rally. "Bubbles need fresh money, or they deflate. Quickly," wrote Colas in a Thursday research note...
Red-hot GameStop stock slipped on Thursday, but it rebounded in after-hours trading. The three major U.S. indices posted gains at market close, mounting a comeback from the previous day's slump. Members of the WallStreetBets community on Reddit, which reportedly has nearly doubled in m...
Wall Street: Short selling and short squeezes explained In most cases, profits are made in the stock market as the price of a share rises. But short sellers can make money as value drops and lose money as it rises.It’s too soon to tell what will become of the Wall Street ...
AMC became aprominent "meme" stockin recent years as retail investors banded together to drive up the stock price of the distressed entertainment company. AMC’s valuation peaked at over $23 billion amid the Reddit-fueled surge in June 2021 when its price reached $59 per share. ...