{"id":550691,"date":"2021-06-03T11:07:15","date_gmt":"2021-06-03T15:07:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=550691"},"modified":"2021-06-03T11:07:19","modified_gmt":"2021-06-03T15:07:19","slug":"reddits-wallstreetbets-wins-again-as-amc-stock-soars","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/reddits-wallstreetbets-wins-again-as-amc-stock-soars\/","title":{"rendered":"Reddit\u2019s WallStreetBets Wins Again As AMC Stock Soars"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freddits-wallstreetbets-wins-again-as-amc-stock-soars%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=550691&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/musk-2.jpg?w=1200&#038;h=800&#038;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\"  style=\"display:none\"><\/div>\n<p><span>Put another one in the win column for the meme-stockers.<\/span><\/p>\n<p><span>Driven in large part by the enthusiasm of small-time traders in the Reddit forum known as \u201cWall Street Bets,\u201d AMC\u2019s share price<\/span><a href=\"https:\/\/www.marketwatch.com\/story\/amcs-2-800-gain-so-far-in-2021-makes-it-by-far-the-best-performing-u-s-stock-but-its-bonds-say-otherwise-11622658928\"> <span>skyrocketed<\/span><\/a><span> by more than a 100% on Wednesday and more than 3000% this year to hit above $70 \u2014 an all-time high that marks the best performance of any stock in 2021 (yes, including GameStop). The reddit investors were quick to celebrate, sending the hashtag #AMCArmy trending.<\/span><\/p>\n<p><span>News that AMC sold 8.5 million common shares to hedge fund Mudrick Capital for $231 million, diluting the stock, could have been interpreted as a sign of weakness. Instead, Redditors took AMC\u2019s <\/span><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210601005339\/en\/AMC-Entertainment-Holdings-Inc.-Raises-230.5-Million-of-New-Equity-From-Mudrick-Capital\"><span>word<\/span><\/a><span> that it plans to use the increased liquidity to go \u201con offense\u201d and aggressively pursue<\/span><span> the \u201cmost valuable theatre assets, as well as to make other strategic investments<\/span><span>.\u201d <\/span><span>After Mudrick turned around and sold its shares on Tuesday, CNBC <\/span><a href=\"https:\/\/www.cnbc.com\/2021\/06\/02\/mudrick-capital-may-have-missed-out-on-more-than-300-million-by-dumping-amc-a-day-early.html\"><span>reported <\/span><\/a><span>the firm may have \u201cmissed out on more than $300 million by dumping AMC a day early.\u201d<\/span><\/p>\n<p><span>AMC\u2019s surge grew so volatile, the NYSE temporarily halted trading several times throughout the day.<\/span><\/p>\n<p><span>When the stock last rallied in late January, brokerage app Robinhood blocked sales. Many small traders<\/span><a href=\"https:\/\/twitter.com\/MajesticDrama\/status\/1400127041924653064?s=20\"> <span>assumed<\/span><\/a><span> the platform was once again at fault for today\u2019s pauses, leading the company to plead its innocence on Twitter: \u201cSpeculation that Robinhood has halted trading in $AMC is not accurate. Earlier today, the NYSE implemented a volatility trading pause of $AMC,\u201d it<\/span><a href=\"https:\/\/twitter.com\/RobinhoodApp\/status\/1400135045365473281?s=20\"> <span>said<\/span><\/a><span>.<\/span><\/p>\n<p><span>Since AMC first became a favorite of the redditors, the theater chain has been careful to court their continued allegiance. CEO Adam Aaron<\/span><a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1411579\/000110465921075395\/tm2117897d3_defa14a.htm\"> <span>announced<\/span><\/a><span> a new program Wednesday that will reward small traders with perks like free movie popcorn.<\/span><\/p>\n<p><span>\u201cAMC Investor Connect will put our Company in direct communication with a retail investor shareholder base that owned more than 80% of AMC at last count,\u201d Aron said. \u201cMany of our investors have demonstrated support and confidence in AMC. We intend to communicate often with these investors, and from time to time provide them with special benefits at our theatres. We start with a free large popcorn on us, when they attend their first movie at an AMC theatre this summer.\u201d<\/span><\/p>\n<p><span>Given that meme stock investors have helped the company avoid bankruptcy and wipe out $600 million of debt, some bonus concession treats is the least AMC can do, something Aron seems to recognize. Unlike GameStop CEO George Sherman, who has largely stayed mum on the favor WallStreetBets bestowed on his company, Aron has been declaring his gratitude for the world to hear.<\/span><\/p>\n<p><span>\u201cAMC now has an army of passionate, interested individual shareholders, some 3 million strong,\u201d he said on<\/span><a href=\"https:\/\/seekingalpha.com\/article\/4425374-amc-entertainment-holdings-inc-s-amc-ceo-adam-aron-on-q1-2021-results-earnings-call\"> <span>earnings call<\/span><\/a><span> in early May. \u201cThese individual investors likely own a majority of our shares, they own AMC. We work for them. I work for them. By definition, their interests and passions are important to AMC, their ambitions and passions are important to me.\u201d<\/span><\/p>\n<p><span>Immediately after this observation, Aron referenced the film \u201cGorillas in the Mist\u201d and pledged to personally donate $50,000 to the Diane Fossey Gorilla Fund. The redditors, who often refer to themselves as \u201capes,\u201d took that as a sign of his solidarity with them.<\/span><\/p>\n<p><span>\u201cAMC CEO Adam Aron announced during today\u2019s quarterly earnings call that he will be personally donating to the Dian Fossey Gorilla Fund along with AMC. Aron truly is one of us. AMC to the Moon!!!\u201d<\/span><a href=\"https:\/\/www.reddit.com\/r\/amcstock\/comments\/n6iku6\/amc_ceo_adam_aron_announced_during_todays\/?utm_source=share&#038;utm_medium=web2x&#038;context=3\"> <span>posted<\/span><\/a><span> one user.<\/span><\/p>\n<p><span>Another read it as a secret stock tip,<\/span><a href=\"https:\/\/www.reddit.com\/r\/amcstock\/comments\/n6iro7\/what_if_aron_donated_those_50k_to_the_gorilla\/?utm_source=share&#038;utm_medium=web2x&#038;context=3\"> <span>saying<\/span><\/a><span>, \u201cWhat if Aron donated those 50k to the gorilla foundation to show us (the army) his minimum \/ maximum hypothesis during the [short] squeeze?\u201d<\/span><\/p>\n<p><span>Much as they did with Tesla CEO Elon Musk, who they call \u201cPapa Musk,\u201d Aron has become so popular within the forum, members have given him a <\/span><a href=\"https:\/\/www.reddit.com\/r\/WallStreetbetsELITE\/comments\/n6iidn\/adam_aron_just_announced_a_huge_donation_to_save\/?utm_source=share&#038;utm_medium=web2x&#038;context=3\"><span>nickname<\/span><\/a><span>: \u201cThe Great Silverback.\u201d<\/span><\/p>\n<p><span>With Aron\u2019s support, the WallStreetBets crowd once again proves the truth of one of their favorite<\/span><a href=\"https:\/\/happymag.tv\/wallstreetbets-apes-together-strong\/#:~:text=It%20all%20comes%20down%20to,are%20as%20dumb%20as%20apes.\"> <span>taglines<\/span><\/a><span>: \u201cApes together strong.\u201d<\/span><\/p>\n<p class=\"p1\"><i>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a\u00a0<\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><span class=\"s1\"><i>member<\/i><\/span><\/a><i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Put another one in the win column for the meme-stockers.Driven in large part by the enthusiasm of small-time traders in the Reddit forum known as \u201cWall Street Bets,\u201d AMC\u2019s share &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2279046,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/musk-2.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Reddit\u2019s WallStreetBets Wins Again As AMC Stock Soars","footnotes":""},"categories":[],"tags":[],"class_list":["post-550691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/06\/musk-2.jpg?w=1200&h=800&ixlib=react-9.0.3","fifu_image_alt":"Reddit\u2019s WallStreetBets Wins Again As AMC Stock Soars","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/550691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=550691"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/550691\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2279046"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=550691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=550691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=550691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}