AMC Theatres, GameStop Shares Surge After Roaring Kitty Highlights GameStop Stake
AMC Theatres and GameStop stocks surged early Monday following a significant endorsement from meme stock investor Keith Gill, also known as Roaring Kitty. Gill posted on Reddit and X (formerly Twitter) about his substantial $116 million investment in GameStop, reigniting interest in both companies’ shares.
AMC Entertainment Holdings, led by CEO Adam Aron, saw its stock rise by $1.01, or 23 percent, to $5.34 in pre-market trading. This increase came as AMC benefited from the renewed fervor in GameStop trading. Gill’s apparent bullish position on GameStop, including an options bet, significantly impacted both stocks. The rise in AMC shares followed Gill’s online activity surrounding GameStop, which allowed AMC to capitalize on the meme stock craze and potentially raise new capital. Gill’s return to the spotlight after a three-year hiatus reignited enthusiasm for AMC’s stock.
Gill’s Sunday night post on X garnered nearly 1 million views, propelling GameStop shares up by $17.93, or 77 percent, to trade pre-market at $41.30. This dramatic increase highlighted the continued influence of online trading communities on stock prices.
AMC’s stock has experienced significant volatility since 2021, driven by retail traders on platforms like Reddit, where Roaring Kitty holds considerable influence. These traders have embraced AMC as a meme stock, causing its value to soar, reaching a peak of $35 in 2021. The meme stock phenomenon has provided AMC with the opportunity to raise fresh capital through stock sales, offering a crucial financial lifeline. Despite the dramatic rise in AMC shares amid the renewed GameStop mania, representatives for AMC Theatres declined to comment on the latest developments.
The renewed interest in AMC and GameStop stocks underscores the power of social media and online communities in influencing market dynamics. Keith Gill’s posts continue to drive significant market movements, reflecting the ongoing impact of the meme stock phenomenon on retail trading. AMC Theatres and GameStop have both become emblematic of the meme stock movement, with their stock prices subject to dramatic swings based on the sentiments and actions of retail traders. The latest surge in their shares is a testament to the enduring legacy of this trading trend, which has reshaped the landscape of stock market investment.
As the meme stock trend continues to evolve, the influence of key figures like Roaring Kitty remains a pivotal factor in driving stock price movements. The ability of individual investors to mobilize and create substantial market shifts highlights the changing dynamics of the stock market in the age of social media. Looking to the future, as these stocks continue to experience volatility, the role of retail traders and influential online figures will likely remain central to their trajectories.
SOURCE: The Hollywood Reporter
Share:
Paramount and Skydance Close to Deal Before Big Meeting
Spotify Announces Second Price Hike in a Year for U.S. SubscribersRelated Posts
AMC Theatres and GameStop stocks surged early Monday following a significant endorsement from meme stock investor Keith Gill, also known as Roaring Kitty. Gill posted on Reddit and X (formerly Twitter) about his substantial $116 million investment in GameStop, reigniting interest in both companies’ shares.
AMC Entertainment Holdings, led by CEO Adam Aron, saw its stock rise by $1.01, or 23 percent, to $5.34 in pre-market trading. This increase came as AMC benefited from the renewed fervor in GameStop trading. Gill’s apparent bullish position on GameStop, including an options bet, significantly impacted both stocks. The rise in AMC shares followed Gill’s online activity surrounding GameStop, which allowed AMC to capitalize on the meme stock craze and potentially raise new capital. Gill’s return to the spotlight after a three-year hiatus reignited enthusiasm for AMC’s stock.
Gill’s Sunday night post on X garnered nearly 1 million views, propelling GameStop shares up by $17.93, or 77 percent, to trade pre-market at $41.30. This dramatic increase highlighted the continued influence of online trading communities on stock prices.
AMC’s stock has experienced significant volatility since 2021, driven by retail traders on platforms like Reddit, where Roaring Kitty holds considerable influence. These traders have embraced AMC as a meme stock, causing its value to soar, reaching a peak of $35 in 2021. The meme stock phenomenon has provided AMC with the opportunity to raise fresh capital through stock sales, offering a crucial financial lifeline. Despite the dramatic rise in AMC shares amid the renewed GameStop mania, representatives for AMC Theatres declined to comment on the latest developments.
The renewed interest in AMC and GameStop stocks underscores the power of social media and online communities in influencing market dynamics. Keith Gill’s posts continue to drive significant market movements, reflecting the ongoing impact of the meme stock phenomenon on retail trading. AMC Theatres and GameStop have both become emblematic of the meme stock movement, with their stock prices subject to dramatic swings based on the sentiments and actions of retail traders. The latest surge in their shares is a testament to the enduring legacy of this trading trend, which has reshaped the landscape of stock market investment.
As the meme stock trend continues to evolve, the influence of key figures like Roaring Kitty remains a pivotal factor in driving stock price movements. The ability of individual investors to mobilize and create substantial market shifts highlights the changing dynamics of the stock market in the age of social media. Looking to the future, as these stocks continue to experience volatility, the role of retail traders and influential online figures will likely remain central to their trajectories.
SOURCE: The Hollywood Reporter
Share:
Paramount and Skydance Close to Deal Before Big MeetingSpotify Announces Second Price Hike in a Year for U.S. Subscribers
