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FILE PHOTO: Chairman of the board Paul Achleitner delivers his speech during the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, May 23, 2019. Deutsche Bank declined to comment. In particular, they have been concerned by lapses in Deutsche’s money laundering controls - a problem that extends back throughout Achleitner’s tenure. Furthermore, accepting the position at Deutsche Bank would require him to resign from a job that paid him 6 million euros last year - a multiple of Achleitner’s earnings. Graphic - Bumpy ride: Deutsche's share price over the past decade:Regulators have struggled for years to rein in Deutsche Bank following numerous scandals and governance issues.
Persons: Paul Achleitner, Kai Pfaffenbach, Andrea Enria, BaFin, Theodor Weimer, Weimer, Norbert Winkeljohann, Frank Witter, Winkeljohann, Witter, Achleitner, , Vanda Rothacker, Christian Organizations: European Central Bank, Deutsche Bank, REUTERS, ECB, Deutsche, Regulators, Bayer, Union Investment, U.S . Department of Justice, Danske Bank, Reuters Locations: FRANKFURT, Frankfurt, Germany, Russia
Chairman of the board Paul Achleitner delivers his speech during the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, May 23, 2019. Deutsche Bank declined to comment. In particular, they have been concerned by lapses in Deutsche's money laundering controls - a problem that extends back throughout Achleitner's tenure. Furthermore, accepting the position at Deutsche Bank would require him to resign from a job that paid him 6 million euros last year - a multiple of Achleitner's earnings. Regulators have struggled for years to rein in Deutsche Bank following numerous scandals and governance issues.
Persons: Paul Achleitner, Kai Pfaffenbach, Achleitner, Andrea Enria, BaFin, Theodor Weimer, Weimer, Norbert Winkeljohann, Frank Witter, Winkeljohann, Witter, Vanda Rothacker, Christian Organizations: Deutsche Bank, REUTERS, Central Bank, ECB, Deutsche, Regulators, Bayer, Union Investment, U.S . Department of Justice, Danske Bank, Reuters, Thomson Locations: Frankfurt, Germany, Russia
GameStop tumbles, Clover Health rises in 'meme stock' rollercoaster
  + stars: | 2021-06-10 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: +1 min
June 10 (Reuters) - Shares of GameStop fell 7.6% and Clover Health Investments jumped 5.9% in early deals on Thursday, setting the stage for another rollercoaster session for stocks favored by small-time investors on social media platforms. Clover Health, which had a short interest of 43.5% of free float as of Tuesday, was up 5.9% at around $17.92 before the bell. In the past two weeks, the so-called “meme stocks” have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price. Shares of AMC Entertainment were down 6.0%, while prison operator Geo Group - the latest “meme stock” - slumped 8.5% after surging 38% on Wednesday.
Persons: Vanda, Sagarika, Sriraj Kalluvila Organizations: GameStop, Clover Health Investments, Wednesday, Medicare, Clover Health, AMC Entertainment, U.S . Securities, Exchange Commission, SEC, Vanda Research, Geo Locations: Bengaluru
GameStop tumbles, Clover Health rises in 'meme stock' roller coaster
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 7% and Clover Health Investments Corp (CLOV.O) jumped 6.4% in early deals on Thursday, setting the stage for another roller coaster session for stocks favored by small-time investors on social media platforms. Shares of cinema operator AMC Entertainment Holdings Inc (AMC.N) were down 4.1%, while prison operator Geo Group Inc (GEO.N), the latest "meme stock", slumped 8.8%, after surging more than 38% on Wednesday. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Clover Health Investments Corp, Wednesday, ContextLogic Inc, Clean Energy Fuels Corp, AMC Entertainment Holdings Inc, Geo Group Inc, Medicare, AMC, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
GameStop tumbles, other "meme stocks" falter after big runups
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell more than 17% on Thursday and other so-called meme stocks also declined, setting the stage for another roller-coaster session for stocks favored by retail investors on social media platforms. AMC shares were off around 11%. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Edward Moya, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Wedbush Securities, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Medicare, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
GameStop falls 25% on potential share sale, other 'meme stocks' falter
  + stars: | 2021-06-10 | by ( ) www.reuters.com + 0.00   time to read: +3 min
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. REUTERS/Carlo Allegri/File PhotoShares of GameStop Corp (GME.N) fell 25% on Thursday and other so-called meme stocks also declined in a sell-off that hit a broad range of stocks favored by retail investors on social media platforms. "It appears that other companies, like GameStop, are hoping to follow AMC’s lead by issuing shares and otherwise profit from the meme stocks run up,” Ablin said. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday. That matched their peak in January, when the surge in GameStop shares squeezed short sellers and further boosted the stock price.
Persons: Carlo Allegri, Inc's, Jack Ablin, ” Ablin, Clover, Vanda Organizations: GameStop, REUTERS, GameStop Corp, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Cresset Capital, , Wedbush Securities, Medicare, U.S . Securities, Exchange Commission, SEC, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
A person walks past a GameStop in the Manhattan borough of New York City, New York, U.S., January 29, 2021. Worries that other companies could leverage recent stock price gains by announcing share sales may be rippling out to the broader meme stock universe, said Jack Ablin, chief investment officer at Cresset Capital. "It appears that other companies, like GameStop, are hoping to follow AMC’s lead by issuing shares and otherwise profit from the meme stocks run-up,” Ablin said. GameStop will likely sell all 5 million new shares but that amount only represents a “modest” dilution of 7%, Wedbush analysts wrote. In the past two weeks, the so-called "meme stocks" have received $1.27 billion of retail inflows, Vanda Research said on Wednesday, matching their January peak.
Persons: Carlo Allegri, Jake Dollarhide, Jack Ablin, ” Ablin, Inc's, GameStop's, Vanda Organizations: GameStop, REUTERS, GameStop Corp, Longbow Asset Management, AMC Entertainment Holdings, Clover Health Investments Corp, Geo Group Inc, AMC, Cresset, , Wedbush Securities, U.S . Securities, Exchange Commission, Vanda Research, Thomson Locations: Manhattan, New York City , New York, U.S
Recent retail flows into meme stocks hit January peak levels - Vanda Research
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com sentiment -0.95   time to read: +2 min
REUTERS/Carlo AllegriNEW YORK (Reuters) - Retail traders have put as much money into so-called meme stocks over the past two weeks as they did at the peak of the frenzied GameStop rally in January, analysts at Vanda Research said on Wednesday. Meme stocks are companies that see their value fueled by social media attention. The amount of cash flowing into meme stocks has been larger than any single sector or industry, even surpassing the S&P tech sector, according to Vanda, which tracks retail flows. What sets these meme stocks apart, “is that they are absolutely hated by the hedge fund community, who have been piling into short bets for some time,” Vanda researchers said. Sectors currently seeing higher retail participation include cannabis stocks and gaming stocks, while electric vehicle and space exploration companies, as well as cryptocurrencies have seen waning retail interest, Vanda said.
Persons: Carlo Allegri, Vanda, ” Vanda Organizations: AMC, REUTERS, Retail, GameStop, Vanda Research, GameStop Corp, Clover Health Investments Corp, AMC Entertainment Holdings Locations: Manhattan, New York City , New York, U.S
Wall Street reverses, closing lower ahead of inflation report
  + stars: | 2021-06-09 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +4 min
NEW YORK (Reuters) - Wall Street stocks ended lower on Wednesday, reversing earlier gains as institutional investors awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy. FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoThe retail “meme stock” craze continued unabated. However, other meme stocks such as Clover Health, AMC Entertainment and Bed Bath & Beyond reversed course to close lower. “It feels like alternative stock market,” Carlson added.
Persons: Carlo Allegri, , Chuck Carlson, , ” Carlson, Joe Biden, Shelley Capito, Campbell Soup, Biden, Drugmaker Organizations: YORK, U.S . Federal, New York Stock Exchange, REUTERS, Horizon Investment, Aethlon, GEO Group, Wrestling Entertainment, Clover Health, AMC Entertainment, Vanda Research, GameStop Corp, GameStop, Dow, Washington, Representatives, Philadelphia, Labor, Dow Jones, Nasdaq, Treasury, Pfizer Inc, Washington Post, Drugmaker Merck, Co Locations: Manhattan, New York City , New York, U.S, Hammond , Indiana, States
Clover Health reverses earlier gains as some meme stocks slip
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
FILE PHOTO: The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. Clover Health has been among the most visible of new meme stocks popular with retail investors on forums such as Reddit’s WallStreetBets. The new crop has shot higher in recent days following a resurgence in shares of video game retailer GameStop Corp and movie theater company AMC Entertainment Holdings. Meme stocks have received $1.27 billion of retail inflows in the past two weeks, according to data from Vanda Research. Among other meme stocks, AMC and security solutions provider BlackBerry’s U.S.-listing fell 7% and 5.7%, respectively.
Persons: Carlo Allegri, Melvin Capital, GameStop’s Organizations: Reuters, Clover Health Investments, New York Stock, REUTERS, Clover Health, GameStop Corp, AMC Entertainment Holdings, Geo Group, Vanda Research, GameStop, AMC, Lordstown Motors Corp Locations: seesaw, Manhattan, New York City , New York, U.S, WallStreetBets
Clover Health shares tumble in another wild day for meme stocks
  + stars: | 2021-06-09 | by ( Reuters Staff | ) www.reuters.com + 0.00   time to read: +2 min
(Reuters) -Shares of Clover Health Investments Corp slid on Wednesday, a day after the new retail trader favorite soared about 86%, the latest meme stock to join the frenzy this year. FILE PHOTO: The New York Stock Exchange is pictured in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoThe Medicare-backed insurance seller’s shares were recently down around 13% at $19.20 after climbing to nearly $29. Clover Health has been among the most visible of the new meme stocks to enthrall investors following forums such as Reddit’s WallStreetBets. The fresh crop shot higher in recent days following a resurgence in shares of video game retailer GameStop Corp and movie theater company AMC Entertainment Holdings.
Persons: Carlo Allegri, , Ken Polcari, Ryan Cohen, Melvin Capital, GameStop’s Organizations: Reuters, Clover Health Investments, New York Stock, REUTERS, Clover Health, GameStop Corp, AMC Entertainment Holdings, Kace Capital Advisors, Geo Group, AMC, Vanda Research, GameStop, Lordstown Motors Locations: Manhattan, New York City , New York, U.S, Chewy
S&P 500 teases record closing high as retail frenzy churns
  + stars: | 2021-06-09 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +4 min
A Wall Street sign is pictured outside the New York Stock Exchange in the Manhattan borough of New York City, New York, U.S., April 16, 2021. REUTERS/Carlo Allegri/File PhotoThe S&P 500 (.SPX) hovered near a record closing high on Wednesday, as institutional investors looked to coming inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy. The churn of favored "meme stocks," or heavily shorted stocks involved in a social media-driven retail frenzy, continued its rotation, with Aethlon Medical (AEMD.O) soaring by 429.9%. Among the 11 major sectors in the S&P 500, healthcare was up the most. The S&P 500 posted 35 new 52-week highs and two new lows; the Nasdaq Composite recorded 118 new highs and 11 new lows.
Persons: Carlo Allegri, there's, Tim Ghriskey, We're, Ghriskey, Joe Biden, Shelley Capito, Campbell, Biden Organizations: New York Stock Exchange, REUTERS, U.S . Federal, Inverness, Aethlon, GEO, Wrestling Entertainment, Clover Health, AMC Entertainment, Vanda Research, GameStop Corp, GameStop, Philadelphia, Semiconductor, Labor Department, Dow Jones, Nasdaq, Treasury, Pfizer Inc, Washington Post, Merck, Co, NYSE, Thomson Locations: Manhattan, New York City , New York, U.S, New York, Washington, United States
U.S. stocks end lower ahead of inflation report
  + stars: | 2021-06-09 | by ( Stephen Culp | ) www.reuters.com + 0.00   time to read: +4 min
However, other meme stocks such as Clover Health (CLOV.O), AMC Entertainment (AMC.N) and Bed Bath & Beyond (BBBY.O) closed lower. "It feels like alternative stock market," Carlson added. A street sign, Wall Street, is seen outside New York Stock Exchange (NYSE) in New York City, New York, U.S., January 3, 2019. Among the 11 major sectors in the S&P 500, healthcare gained the most. The S&P 500 posted 38 new 52-week highs and two new lows; the Nasdaq Composite recorded 126 new highs and 14 new lows.
Persons: Chuck Carlson, Carlson, Matt Furlong, Joe Biden, Shelley Capito, Shannon Stapleton, Campbell, Biden, Drugmaker, advancers Organizations: U.S . Federal, Horizon Investment, Aethlon, GEO, Wrestling Entertainment, Clover Health, AMC Entertainment, Vanda Research, GameStop Corp, GameStop, U.S, New York Stock Exchange, REUTERS, Representatives, Philadelphia, Semiconductor, Labor, Dow Jones, Nasdaq, Treasury, Pfizer Inc, Washington Post, Drugmaker Merck, Co, NYSE, Thomson Locations: Hammond , Indiana, New, New York City , New York, U.S, Washington, States
A recent string of strong economic data releases from the United States boosted the dollar index - which measures the greenback against a basket of currencies - this week to its highest level since mid-May. Those gains came as investors anticipated that the Federal Reserve may respond to the economy heating up and move towards tightening policy sooner than expected. However, Friday’s jobs data release knocked the dollar off its perch and gave some breathing room for the pound, which was earlier set for its first week of losses in five. By 1311 GMT, sterling was nearly 0.7% higher to the dollar on the day at $1.4189. Speculator positioning is still directionally net “long” the pound, which means that the market is betting on future gains for the currency against the dollar.
Persons: , Viraj Patel, Sterling, BoE, Ritvik Carvalho, David Evans, Ros Russell Organizations: greenback, Federal, NFP, Vanda Research, ING, Bank of England’s Locations: United States, Britain, British, 2H22
After sharp weekly gains, oil prices slip as coronavirus gloom persists
  + stars: | 2021-06-04 | by ( ) www.cnbc.com + 0.00   time to read: +3 min
Oil prices eased on Friday as concerns about the patchy roll-out of COVID-19 vaccinations around the globe tempered optimism over recovering fuel demand. U.S. oil fell 10 cents, or 0.2%, to $68.71, having dropped 2 cents in the previous session, while heading for a gain of nearly 4% this week. But I expect the pullback to be modest, as the broader narrative of a strong U.S. economic and oil demand rebound is well-entrenched," said Vandana Hari, energy analyst at Vanda Insights. "We continue to view oil demand recovery as largely a function of vaccinations," JPMorgan Chase commodities analysts said in a note. Prices rose earlier this week as the Organization of the Petroleum Exporting Countries (OPEC) and its allies in the grouping known as OPEC+ predicted demand will exceed supply in the second half of 2021.
Persons: Brent, Vandana Hari, Hari Organizations: Vanda Insights, JPMorgan, of, Petroleum, OPEC Locations: Almetyevsk, Russia, COVID, U.S, America, Europe, OPEC, Iran, Brazil, India
REUTERS/Rafael MarchanteCannabis stocks may be the next area of attention for retail investors as a recent rally in meme stocks fizzles, says Vanda Research. That marked the first clear signs of a rotation out of meme stocks, said Vanda. Meme stocks bounced back into the spotlight for retail investors in late May as bitcoin and other cryptocurrencies were crashing. AMC shares began to surge after major shareholder Dalian Wanda Group sold almost all of its remaining stake in the company. While meme stocks are still heftier in value than weeks before, the rally was starting to fizzle with AMC shares pulling back.
Persons: Rafael Marchante, Vanda, Redditors, Ben Onatibia Organizations: REUTERS, Vanda Research, Growers, AMC Entertainment, AMC, GameStop, BlackBerry, Vanda, Dalian Wanda Group, Amazon, Marijuana, Reinvestment
Why AMC is luring rabid investors with free popcorn
  + stars: | 2021-06-03 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com sentiment -0.93   time to read: +1 min
AMC Entertainment AMC What's happening:, whose shares have skyrocketed almost 140% this week to an all-time high, is offering investors benefits including a free large popcorn when they go to theaters this summer. "Many of our investors have demonstrated support and confidence in AMC," AMC CEO Adam Aron said in a statement. The move is a sign that companies receiving attention from everyday investors congregating online are trying to leverage the fandom to support their struggling businesses. AMC said that retail investors now own more than 80% of the company. (In a real sign of the times, one Twitter user shared a video of AMC shares being plugged at a pool party, while another shared an image of AMC supporters waving signs on a street corner.)
Persons: Adam Aron, Read Organizations: CNN Business, Bell, CNN, AMC Entertainment AMC, AMC, Retail, Vanda Research Locations: London
An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File PhotoShares of AMC Entertainment Holdings (AMC.N) surged more than 40% to a fresh record high on Wednesday, extending a breathtaking rally that has seen its stock price more than triple since mid-May. The theater chain operator’s shares were recently up 47% at $47.25, a fresh record. The shares went from just over $2 at the end of last year to well over $40 now. Blackberry(BB.TO), another favorite of retail investors, saw its shares rise around 12%.
Persons: Carlo Allegri, WallStreetBets, AMC “, , , Giacomo Pierantoni, Adam Aron, Cryptocurrency Dogecoin, coingecko.com, Refinitiv Eikon, Ipek Ozkardeskaya Organizations: AMC, REUTERS, AMC Entertainment Holdings, GameStop, Mudrick Capital, Vanda Securities, Coinbase Global Inc, Fidelity, Thomson Locations: Manhattan, New York City , New York, U.S, Singapore
Is Amazon the spark that reignites cannabis stocks?
  + stars: | 2021-06-02 | by ( Julia Horowitz | Cnn Business | ) edition.cnn.com + 0.00   time to read: +6 min
A version of this story first appeared in CNN Business' Before the Bell newsletter. You can sign up right hereLondon (CNN Business) After struggling in recent months, companies that focus on the booming marijuana sector could be primed for a takeoff. In recent days, names likeandhave seen a pickup in purchases by amateur traders, according to analysts at Vanda Research. They noted that Sundial and Tilray were the fourth and seventh most mentioned stocks in the popular Reddit WallStreetBets forum on Tuesday. The latest corporate hack is roiling the meat marketShoppers may need to brace themselves for yet another supply crunch, my CNN Business colleagues Danielle Wiener-Bronner and Angus Watson report.
Persons: likeandhave, Jerry Nadler, Ben Onatibia, Giacomo Pierantoni, Dave Clark, Clark, David Klein, What's, Will Reddit, Danielle Wiener, Bronner, Angus Watson, JBS, shutdowns, David Littleproud, Steve Meyer, Kerns, Elon, Elon Musk, Shiba, Tesla, Diksha Madhok, Musk, hadn't Organizations: CNN Business, Bell, Corporate America, Vanda Research, Marijuana, Reinvestment, Democratic, Senate, CNN, Steiner Consulting Group, CNN Business Wednesday, Associates, Samsung Publishing, YouTube, Samsung, US Securities and Exchange Commission, SEC, Wall Street, Advance, Federal Reserve Locations: London, Washington, Corporate, North America, Australia, Russia, New South Wales, Victoria, Queensland, South Korea
AMC shares zoomed up 200% during the week but failed the reach social media calls for a $500,000 price tag. Virgin Galactic bounced higher after the company's successful space flight. Retail investors on Reddit at the start of the year staged a virtual fight against institutional investors that bet GameStop's price would go down. AMC shares eventually backed off that threshold but still more than doubled from about $12 from the start of the week. Markets Insider4) Virgin Galactic rockets upShares of the commercial space flight company touched $35.04 on Friday, briefly bringing its weekly rise to 66%.
Persons: New York Lucas Jackson, Edward Moya, Vanda, Moya Organizations: GameStop, Reuters AMC, Virgin Galactic, AMC, Reddit, Vanda Research, Virgin Locations: New York
An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo AllegriShares of AMC Entertainment (AMC.N)hit record highs before paring gains on Friday, putting the movie theater chain on track for a 156% weekly gain. AMC's shares were last up 16.4% at $30.87 after earlier hitting a high of $36.72,and on track for their biggest weekly gains since late January. Retail traders' shift into so-called meme stocks - shares favored by the denizens of online communities - comes on the back of a selloff in Bitcoin and other cryptocurrencies whose prices have slumped in recent weeks. AMC rose 35.5% in that session adding more than $3.3 billion to its market value, according to data from Refinitiv.
Persons: Carlo Allegri, lilant135 Organizations: AMC, REUTERS, AMC Entertainment, GameStop, Vanda Research, Galactic, Thomson Locations: Manhattan, New York City , New York, U.S, Bitcoin
An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. AMC's shares were last up 5.4% at $27.94 after earlier hitting a high of $36.72,and on track for their biggest weekly gains since late January. Shares of the videogame retailer, which has been at the heart of the so-called "stonks" retail trading mania this year, were still set for its best weekly gain since mid-March, up about 40% so far. Retail traders' shift into so-called meme stocks - shares favored by the denizens of online communities - comes on the back of a selloff in Bitcoin and other cryptocurrencies whose prices have slumped in recent weeks. AMC rose 35.5% in that session, adding more than $3.3 billion to its market value, according to data from Refinitiv.
Persons: Carlo Allegri, lilant135 Organizations: AMC, REUTERS, AMC Entertainment, GameStop, Vanda Research, Galactic, Thomson Locations: Manhattan, New York City , New York, U.S, Bitcoin
REUTERS/Carlo AllegriShares of movie theater chain AMC Entertainment (AMC.N) closed lower on Friday, snapping a four-day rally that saw them gain 116% on the week. Shares in GameStop (GME.N), meanwhile, closed down 12.6%on Friday at $222 after hitting a session peak of $268.79. For the week, GameStop shares registered a gain of 25%, their biggest weekly advance since mid-March. AMC rose 35.5% on Thursday, adding more than $3.3 billion to its market value, according to data from Refinitiv. With 656 million shares changing hands on Friday, AMC was the most traded stock on U.S. exchanges for the second day in a row.
Persons: Carlo Allegri, AMC's, Viraj Patel, lilant135 Organizations: AMC, REUTERS, AMC Entertainment, GameStop, Vanda Research, Gamestop, S3 Partners, Retail, Thomson Locations: Manhattan, New York City , New York, U.S, Bitcoin
AMC Shares Push Past 1,100% Yearly Gain, Driven by Individuals
  + stars: | 2021-05-28 | by ( Caitlin Mccabe | ) www.wsj.com + 0.99   time to read: +1 min
The movie-theater chain, whose stock closed last year just above $2, finished Friday at $26.12, giving the shares a year-to-date gain of more than 1,100% and the company a market capitalization of nearly $11.8 billion. Once again fueling this week’s rise: enthusiastic individual investors who have banded together on Reddit’s WallStreetBets forum, in Discord chat rooms and in text chains with friends. AMC’s shares actually closed Friday down 1.5% after surging as high as 38% earlier in the day. But the loss wasn’t enough to deter individual investors. Across social media, individual traders on Friday afternoon encouraged others to hold their positions.
Persons: Vanda Research’s VandaTrack, AMC’s Organizations: AMC Entertainment Holdings Inc, Wall, Twitter
Individual Investors Push AMC’s Yearly Gain Toward 1,200%
  + stars: | 2021-05-28 | by ( Caitlin Mccabe | ) www.wsj.com + 0.97   time to read: +2 min
The movie-theater chain company, whose stock closed last year just above $2, hovered around $27.25 in recent trading Friday, giving the shares a year-to-date gain of nearly 1,200% and lifting AMC’s market capitalization to more than $12 billion. Once again fueling this week’s rise: enthusiastic individual investors who have banded together on Reddit’s WallStreetBets forum, in Discord chat rooms and in text chains with friends. Shares are up roughly 125% week-to-date, with Vanda Research’s VandaTrack estimating that individual investors poured a net $209 million into the stock between Monday and Thursday. She had never day-traded before January, she said, but became interested when she saw another individual investor touting AMC on Instagram. She held steady amid dips and climbs in the share price in recent months, she said, increasing her position.
Persons: Vanda Research’s, Alisha Higgs, Organizations: AMC Entertainment Holdings Inc, Wall, Twitter, AMC Locations: Louisville, Ky
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