After its movie theaters were shut and its stock nearly left for dead because of the pandemic, AMC Entertainment is embracing the horde of fanatical investors who shocked its shares back to life as part of this year's "meme stock" buying spree.
"After all, these people are the owners of AMC, and I work for them," AMC CEO Adam Aron said in a statement. Social media has amplified their power further, with threads on Reddit, Twitter and elsewhere quickly building momentum for some stocks. It was most apparent early this year when AMC, GameStop and a handful of other beaten-down stocks suddenly surged to shock and awe Wall Street.
Bitcoin climbed above $60,000 early this year, only to fall back toward $38,000, according to Coindesk. Dogecoin, which is trying to shed its image as a joke cryptocurrency, has soared more than 8,000% in 2021.
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