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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 ...
The rally spread to other highly shorted stocks including AMC as Reddit users banded together to squeeze bearish hedge funds, costing them billions in losses and drawing scrutiny from U.S. regulators.
The subreddit r/wallstreetbets is an online community on Reddit, a social news website.The community is known for discussion about meme stocks and high-risk stock transactions.
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. ... In Other News.
Gamestop’s share price rose by 111% on Monday, but has since retreated to about half that value, trading at around $30 as of noon EST. Another meme stock, AMC Entertainment Holdings, was up 12% ...
A meme stock is a stock that gains popularity among retail investors through social media. The popularity of meme stocks is generally based on internet memes shared among traders, on platforms such as Reddit's r/wallstreetbets. Investors in such stocks are often young and inexperienced investors.