US cinema cashes in shares, taking advantage of inflated equity price after pile-in by amateur traders
Shares in “meme stocks” such as AMC Entertainment, the biggest movie theatre business in the world and the owner of Odeon in the UK, have been on another rollercoaster ride as small investors took up the cudgels against Wall Street once more.
Trading in the US firm has been halted several times this week as amateur traders scrambled to buy stock in huge volumes, doubling the share price to more than $69 at one stage and valuing the business at $30bn. Professional analysts reckon the stock should be at less than $4.
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