AMC Entertainment (NYSE:AMC) stock is on the rise this morning as investors celebrate their new holiday with the hashtag #AMCDAY on social media.
Stock holidays are starting to become more popular with meme investors. We saw as much earlier this week when the Dogecoin (CCC:DOGE-USD) lovers celebrated Doge Day on Tuesday. It likely won’t be long before we see GameStop (NYSE:GME) investors jump on the bandwagon and make their own holiday too.
So what do investors need to know about #AMCDAY? We’ve got a quick breakdown below.
- The idea of holding a holiday for AMC stock seems to be a recent one inspired by Doge Day.
- The main goal here is for investors to buy up shares of the stock to send it higher.
- That means investors can expect to see heavy trading of AMC shares today.
- While this is boosting the price of the stock, anyone thinking about jumping on board should be wary.
- DOGE saw a major drop after investors built it up for its holiday.
- It’s possible that the same thing could happen to AMC stock once the hype of #AMCDAY dies down.
- However, plenty of users on social media are also using it as an opportunity to shares memes with each other.
- That resulted in the stock holiday trending on Twitter (NYSE:TWTR) this morning.
Let’s take a look at what Twitter users are posting in support of #AMCDAY today.
— Tony Stonk™ 🍥 (@DickTugging) April 22, 2021
— DogeWick (@Sherman48897024) April 22, 2021
— THE INFAMOUS JCITY (@jcitydgaf) April 22, 2021
— lilrocket (@PappaApe) April 22, 2021
— Ape Munchin Crayons (@ApeCrayonsYummy) April 22, 2021
AMC stock was up 2.3% in pre-market trading and is up 386.6% since the start of the year.
While #AMCDAY is in the full swing, that doesn’t mean investors should turn a blind eye to other stocks.
Instead, it’s wise to keep track of others seeing major movements today. Luckily, we can help out with that. Stocks and cryptos on the move this morning include Palantir Technologies (NYSE:PLTR), Teradata (NYSE:TDC), SafeMoon (CCC:SAFEMOON-USD), and others.
More Thursday Market News
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- Today’s Biggest Pre-Market Movers: 10 Top Gainers and Losers on Thursday Morning
- How the SafeMoon Crypto Frenzy Is Making PancakeSwap (CAKE) Look Sweet
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.