Shares of AMC Entertainment (AMC) continues to make record highs, the stock a since broke through the $69 level, surging more than 30%.
The theater chain operator’s shares were recently up 47% at $47.25, a fresh record. Its market value has ballooned to more than $19 billion, eclipsing that of video game retailer GameStop (GME), another favorite of retail investors on forums such as Reddit’s WallStreetBets, whose market value recently stood at just over $18 billion.
The gains came a day after hedge fund Mudrick Capital sold a $230 million stake in the company for a profit shortly after acquiring it, saying it believed the stock was overvalued, sources say.
AMC, whose stock has risen almost 2,000% this year, has been among the biggest gainers from a deluge of interest in so-called meme stocks, fueled in part by a new generation of social media centric small-time traders. The shares went from just over $2 at the end of last year to well over $40 now.
Stocks Reddit’s WallStreetBets could target next
There are numerous tools online that lets you find out the latest amount of stock mentions on Reddit and WallStreetBets, here are some stocks that could be next:
- Nokia (NOK)
- Palantir (PLTR)
- Blackberry (BB)
- Virgin Galactic (SPCE)
- Sofi Technologies (SOFI)
- Nio (NIO)
- Rocket Companies (RKT)
- Roku (ROKU)