12/11/2023 0 Comments Amc redditWhether you’re planning to swing trade shares or options, it can be helpful in these situations to wait for a dip to enter. Options volume has also exploded throughout the week as bulls push hard for a gamma squeeze, the specific breed of call-driven short squeeze that caused an international phenomenon around GME shares in late January. The bullish volume and price action continued into Wednesday for both stocks.Īt the time of writing, AMC is trading for $19.60 (19 percent higher on the day,) while GME is trading for $247.63 (18 percent higher on the day.) Plus, “GME NFT” just rolls off the tongue, doesn’t it? Trading the Mania ![]() Power to the collectors.”Īs if it couldn’t get any better for retail $GME bulls, the landing page also showcases an address linking an Ethereum (ETH) wallet, solidifying the collision of cryptocurrency traders and WallStreetBets retail scalpers. That is all that the mysterious page says, except for a Game Boy-inspired image in the center, showing a screen that reads: “Power to the players. If you want to join our team, send your profile or something you’ve built to. “We welcome exceptional engineers (solidity, react, python), designers, gamers, marketers, and community leaders. Then on Tuesday, the company quietly announced plans to develop a non-fungible token platform, causing trader interest to explode as soon as the market opened. While the move in AMC shares had already broken out around the midway point of May, its partner in crime GameStop was a different chart, coiling up modestly. Things are certainly moving in the right direction for the company internally, which is lining up serendipitously with the country reopening - and movie theaters getting close to a day when they once again reach full capacity.īut we can’t discuss Reddit mania without briefly diving into the king of all meme stocks: GameStop. They love AMC,” Aron gushed on a recent earnings call.Įven before news of the Amazon-MGM deal hit the wire, AMC had begun moving earlier this month when the company announced they had raised $428 million in a stock sale. “Just go on Twitter, just go on Reddit, just go on YouTube, read what these people write. In fact, retail traders love AMC stock so much that CEO Adam Aron believes they’ll be the rising tide that lifts the beleaguered theater chain back to its glory days. Such a big shift in the film industry has reignited retail interest in the sector, and Reddit’s favorite movie stock is AMC. The biggest headline to cross FinTwit this week was Amazon’s surprise $8.5 billion purchase of legacy film studio MGM.įurthering their push towards Hollywood domination, the acquisition is the company’s second-biggest in its history - dwarfed only by its 2017 purchase of Whole Foods for $13.4 billion.
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