Shares of AMC Entertainment (NYSE: AMC) are rising 5% higher as of 11:05 a.m. ET on Thursday on no company-specific news, but rather in sympathy with fellow meme stock GameStop (NYSE: GME), which has been putting on a clinic of double-digit gains over several days. GameStop has been the most talked-about stock on the WallStreetBets subreddit, so that AMC is riding its coattails is not a surprise. What keeps meme stock traders animated is the hope that a massive short squeeze will send shares soaring.
Yahoo Finance's Ines Ferre details the market and sector actions at today's close, including social media stocks like Snap, Nasdaq leaders, apparel stocks, and meme stocks.
Shares of AMC Entertainment (NYSE: AMC) were down by 7.8% to $10.68 at 12:20 p.m. ET Tuesday, on no news specific to the company. The movie theater operator has seen its stock rally numerous times lately. For example, it popped after management announced it was investing in a defunct gold and silver miner, Hycroft Mining (NASDAQ: HYMC), and did again more recently after the company took a near-7% stake in National CineMedia (NASDAQ: NCMI), an advertising outfit for movie theaters.