These Reddit guys are like the Antifa of the market, pooling resources and going after the big shorts of wall street, the bottom feeders who made careers and wealth from sinking struggling businesses. And they are succeeding! Of course, when the adrenalin drops and the hangover hits after the bottom feeders have gone in search of other carcasses, there remains businesses that are only worth about what they were before anyone paid attention. Rebellious bonding may not stick long for those who lose everything to the drop. That's if big money regularly harassed by the tart juices of this world doesn't find a way to cover the warriors' bigger losers as a show of support for their activism.
AMC is going to be hot Friday, already hitting 21 at 7:00 am. Got 10k shares for a 7 rise to finish the month gloriously.
I’ve heard some folks are holding till triple digits...their hands are made of some type of extremely hard material...
Funny you say that, I ended up in the hospital a couple of weeks ago after slicing my little finger with a very sharp falling bread knife... had to have both nerve and artery stitched back together and 17 stitches to close it up...so, no, I don't have hands of extremely hard material
People are just ignoring the consequences of all this, especially from the perspective of Reddit. It wouldn't be shocking that Reddit gets rid of all stock discussion once this crashes and the news stories that produces. Some person living check to check that puts in everything at the top and losing it all because they found the thread on Reddit. Reddit is going to be put in a really weird position. Can't really recommend Shiller's Narrative Economics book enough. This is really the perfect example of the absurdities of the efficient market hypothesis vs the reality of narrative driven decisions.
Wtf... they halt for a $1.5 move! I don't understand those triggers... Looks like every $2 move triggers the freeze...
News just popped that RBH and TDA are restricting trading of AMC. On what grounds? Of course price is dropping. I certainly hope that a class action lawsuit comes out of this nonsense, including circuit breaking the share every time it move up or down a dollar