AMC Entertainment (AMC - Free Report) saw its stock price more than quadruple on Wednesday after day traders and retail investors piled into the movie theater giant. AMC was up as much as 360% in pre-market trading, and now trade up over 250%. Shares were halted several times this morning. Over 500 million shares had already changed hands about one hour into the trading day.
Interest in AMC has been growing on the r/wallstreetbets board on Reddit as members seek to recreate GameStop’s (GME - Free Report) meteroic rally. GME is still being driven higher; shares are up almost 140% in midday trading.
Options trading is also fueling GME’s rise: How Options Trading is Fueling the GameStop Rally.
The fervor is resulting in what’s known as a short squeeze: retail investors are piling into a stock to drive the price up so that major firms betting against the stock are forced to buy more shares to cover their losses.
It’s not just GME and AMC. Other heavily shorted stocks are seeing huge price increases today too, and have been all week: Bed Bath & Beyond +27%, BlackBerry (BB - Free Report) +36%, Eastman Kodak (KODK - Free Report) +35%.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
AMC Entertainment (AMC - Free Report) saw its stock price more than quadruple on Wednesday after day traders and retail investors piled into the movie theater giant. AMC was up as much as 360% in pre-market trading, and now trade up over 250%. Shares were halted several times this morning. Over 500 million shares had already changed hands about one hour into the trading day.
Interest in AMC has been growing on the r/wallstreetbets board on Reddit as members seek to recreate GameStop’s (GME - Free Report) meteroic rally. GME is still being driven higher; shares are up almost 140% in midday trading.
Options trading is also fueling GME’s rise: How Options Trading is Fueling the GameStop Rally.
The fervor is resulting in what’s known as a short squeeze: retail investors are piling into a stock to drive the price up so that major firms betting against the stock are forced to buy more shares to cover their losses.
It’s not just GME and AMC. Other heavily shorted stocks are seeing huge price increases today too, and have been all week: Bed Bath & Beyond +27%, BlackBerry (BB - Free Report) +36%, Eastman Kodak (KODK - Free Report) +35%.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
AccessZacks Top 10 Stocks for 2021 today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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