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AMC, another meme stock, jumped 75% Monday, while Reddit traded 9% higher. Roaring Kitty, whose legal name is Keith Gill, is a former marketer for Massachusetts Mutual Life Insurance.
r/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading. It has become notable for its colorful and profane jargon, aggressive trading strategies, and for playing a major role in the GameStop short squeeze that caused losses for some US firms and short sellers in a few days in early 2021.
The video game retailer’s stock soared hours after a Reddit post by stocks influencer Keith Gill ... Shares of AMC Entertainment were up nearly 28% by 6.47 a.m. ET Monday. ... For more CNN news ...
Shares of AMC surged 24% in premarket trading Monday. The movie theater chain climbed 48% in May amid the revival of meme stock craze. Reddit’s stock gained 5% Monday. ... The Today Show.
In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions ...
With today's gains, the stock now has a market value of roughly $9 billion, but at its peak was worth about $37 billion. ... The rally spread to other highly shorted stocks including AMC as Reddit ...
Reddit shares climbed roughly 9%. Shares of trading platform Robinhood Markets, which suspended purchases of GameStop, AMC and other meme stocks during the frenzy in 2021, rose 4%.
Meme stock. A meme stock is a stock that gains popularity among retail investors through social media. [1] [2] [3] The popularity of meme stocks is generally based on internet memes shared among traders, [4] on platforms such as Reddit 's r/wallstreetbets. [5] Investors in such stocks are often young and inexperienced investors. [6]