AMC Entertainment (NYSE:AMC) stock is on the rise today as investors in the meme stock are pushing for a squeeze on social media.
Here’s everything AMC stock investors need to know about today’s news.
- Investors in AMC are calling for a short squeeze of the stock to boost its price higher.
- This has loads of users taking to Twitter (NYSE:TWTR) to discuss the effort.
- These investors are using the hashtag #AMCSqueeze.
- There’s enough of them posting that the hashtag is currently trending on the social media platform.
- That has many users on Twitter calling on others to buy and hold shares of the stock to increase their value.
- This type of activity is something we’ve seen in the past from Reddit investors.
- They come together to buy and hold shares of a stock and typically target those shorted by hedge funds.
- AMC stock is actually already one of Reddit’s favorites.
- It experienced a similar boom earlier this year alongside GameStop (NYSE:GME) and other meme stocks.
- Meme stocks cooled off for a while after all that activity.
- During that time, cryptos were the new meme investment with Dogecoin (CCC:DOGE-USD) and others getting major boosts.
- However, it looks like investors are taking interest in meme stocks again.
- That makes sense as crypto is experiencing a crash right now after Elon Musk said Tesla (NASDAQ:TSLA) will no longer accept Bitcoin (CCC:BTC-USD).
- It could be that more meme investors are turning back to their favorite stocks as cryptos like DOGE take a major hit today.
- Either way, today’s news definitely has investors in AMC stock happy.
- Many are share memes and jokes on Twitter alongside the short squeeze hashtag.
AMC Stock was up 13.4% as of Thursday morning and is up 482.6% since the start of the year.
Of course, AMC isn’t the only stock investors should keep their eyes on today.
Several others are also seeing major movement that’s worth pointing out. They include High Tide (OTCMKTS:HITIF), Marathon Digital Holdings (NASDAQ:MARA), Riot Blockchain (NASDAQ:RIOT), and Hertz (OTCMKTS:HTZGQ). You can learn more at the links below.
More Thursday Stock News
- HITIF Stock: What Is Going on With Cannabis Play High Tide Today?
- Crypto Stocks: Why RIOT, COIN, MSTR, MARA Stocks Are Plunging Today
- HTZGQ Stock: The Big Bankruptcy News That Has Hertz Shares Rocketing
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.