AMC meme queen, fly to Wall Street with free popcorn – Economy

AMC flies to Wall Street, re-igniting the ‘meme stock’ race, and bringing back the ‘rise of GameStop’. The cinema chain, up 3,000% since the beginning of the year, closes on Wall Street up 95% to a record $ 62.55 per share.
Triggering the sprint is the announcement of the AMC Investor Connect program, a plan to reward loyal individual investors with special benefits, from ad hoc screenings to free popcorn in the room. AMC thus caters to those DIY investors who have supported the stock in spite of everything and everyone, even short selling. The rally is reminiscent of that of the Reddit army that pushed GameStop in January but went well beyond: AMC’s market capitalization has jumped to $ 31 billion, above the Texas video game company’s $ 25 billion peak.
Retail investors have entered the equity market in record numbers since the start of the pandemic, with retail trading volumes doubling between 2019 and 2020. AMC was one of the beneficiaries, with amateur investors controlling 80% of the company despite its certainly not rosy prospects. In fact, analysts predict that the cinema chain could lose nearly 100 million in 12 months. However, these estimates have not affected the interest of small investors, which have now become an important phenomenon on the market. Several listed companies are questioning how to position themselves and interact with the new generation of retail investors and their strength. but also with their involvement in companies, which has become greater thanks to the possibility of following the events dedicated to shareholders in a virtual way and therefore being able to weigh, with one’s vote, in the choices.

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AMC meme queen fly Wall Street free popcorn Economy

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