The cinema chain AMC Entertainment’s (AMC) stock surged Monday afternoon after it announced it bought a stake in (HYMC).
After another week of a rapidly rising stock price, shares of AMC were soaring 22.2% at 11:30 a.m. EST on Monday
Meme stocks such as AMC and Gamestop (GME) have once again soared recently
These meme stocks are often companies that have been struggling in the stock market
Then, the stocks go up simply because everyone else is buying them
CEO Adam Aron told Reuters investors should be on the lookout for more “transformational” deals.
Gamestop shares opened 11% higher than average last Wednesday
After chairman Ryan Cohen bought 100,000 shares of the brick-and-mortar video game retailer.
Over the last five days, GME is up approximately 78% and AMC is up about 50%.