Amc Stock-price Surge: Veteran Options Trader On 3 Drivers Of It

by businessinsider.com posted 1month ago 17 views
Summary List PlacementThe meme-stock-investing saga is back in full force. As of Monday's market close, AMC Entertainment and GameStop were up a whopping 2,446% and 1,913% this year. The S&P 500 had gained a more modest 14%. Unlike GameStop's stratospheric rally, which famously upended hedge funds including Melvin Capital and Citron Research, AMC's meteoric rise has benefited at least one hedge fund. New York's Mudrick Capital unloaded its entire stake in AMC for a profit last week on the same day that news came out that it had purchased $230.5 million worth of the stock.

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