AMC was sent on a wild ride this year as retail investors jumped into the stock. Could this meme stock movement change Wall Street forever? Watch the full video here:
pushed the company to the brink of bankruptcy, but today its market cap is more than $18 billion thanks, in part, to a group of 4.1 million retail investors who now own 80% of the company.
Some of these retail investors call themselves "apes," a play on Wall Street referring to them as "dumb money." In a digital uprising on Reddit, Twitter and YouTube, they have jumped into the stock giving AMC a billion-dollar lifeline. The company's CEO, Adam Aron, is one of the most interesting characters in this whole drama because he has leaned into AMC's "Aron communicates with retail investors directly on social media and he's incorporating their ideas for the company, like, into his strategy. The CEO is known for turning around struggling companies and he's prepared for the fight to save this one.
"We have a massive valuation of our company right now in market cap, and we need to grow into that valuation," Aron said. "And I think as the next six, 18, 30 months play out, you'll see AMC branching out and doing more interesting things. And that will be the definition of success." CNBC's Melissa Lee interviewed Aron about his plans to revive the company, as well as some of the ape's biggest influencers — Trey Collins, known as Trey's Trades, and Matt Kohrs, to hear why the apes think Wall Street is rigged, and what they are trying to
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Wall Street closes up on infrastructure gains but Tesla weighsWall Street stocks ended slightly higher on Monday, gaining early in the day as investors cheered passage of a U.S. infrastructure spending bill, but paring gains late as sliding Tesla shares weighed the indexes down.
Baca lebih lajut »
Wall Street hits new highs on infrastructure dealStocks surged to record highs Monday, buoyed by fresh optimism about the government spending that would be unlocked by the passage of President Biden’s infrastructure plan.
Baca lebih lajut »
Asia stocks slip after Wall Street hits another recordTokyo, Hong Kong and Seoul declined while Shanghai advanced.
Baca lebih lajut »
Wall Street declines, ending a run of record highsWall Street slid on Tuesday, bringing a multi-day rally of straight record closing highs to a close as profit-taking and worries over ongoing inflation fueled a broad sell-off.
Baca lebih lajut »
Wall Street losses end streak of record highs as inflation worry weighs on marketWall Street closed lower on Tuesday, ending a multi-day rally of consecutive record closing highs as profit-taking and worries over ongoing inflation fueled a broad sell-off.
Baca lebih lajut »
Stocks end lower on Wall Street, ending eight-day winning streakStocks ended moderately lower Tuesday, ending an eight-day winning streak for the market that had been fueled by strong company earnings and economic data.
Baca lebih lajut »