It’s the early 2000’s. You have been waiting all day to go to that new movie showing at AMC theaters. School is out and you are on your way. The theater is packed and people are ready to go, life is good.Well AMC is back, maybe not in that way though. Their stock is alive and better than ever. Thanks to the meme madness started by GameStop.
The AMC and GameStop Madness
Back in January and February GameStop went absolutely wild. No one really knew why, besides the simple fact of, “I like the stock”. With GameStop slowly becoming a meme, the stock started absolutely soaring, which made it officially the meme of all memes.
People tried claiming the reopening of theaters made the stock rise but I really don’t buy that at all. Maybe when the stock went from like 2 to 10 dollars but what about when it went to $60 in the past few weeks? I don’t think that had much to do with theaters opening and business returning. It was all the memers.Reddit was ALLLLLLL over AMC of course. It was the next GameStop according to them. I know I sound like a hater right now and a suit like the rest of Wall Street, that isn’t the case though. I was in AMC at like 8 dollars and rode it to 20$.
Ya ya, I sold, don’t be mad. Everyone is screaming Diamond Hands! We need to beat the suits. There will be a group of people who probably never sell, to prove a point. They are calling themselves “Apes”. Well okay I guess, isn’t the point of investing to make money? Not sit around and try to prove a point? To each their own. I just wasn’t holding out for too long. We made that money and left.
Looking back, it was inevitable it would blow up considering how many insane individuals are in AMC and won’t sell. Should have known. All we know though is the meme world is back in stocks, is that good? The answer is probably not, but the internet is undefeated.
10K sports writer that specializes in Timberwolves content. Lover of pizza, disc golf and having the Timberwolves forever make me sad.