After GameStop brought the worlds of finance and gaming together earlier this year, AMC Entertainment has now become the main focus of Reddit’s retail traders. However, AMC is fully embracing its meme stonk status by launching AMC Investor Connect with the promise of a free large tub of popcorn and a special screening in the future for those who sign up.

AMC Theatres is the largest film exhibitor in the world, yet, like most movie theater companies, its share price plummeted due to the effects of the pandemic throughout the entire movie industry. Surprisingly, AMC found itself on the lower end of the WallStreetBets scandal alongside forgotten companies from the early 2000s like Nokia and BlackBerry, until a couple of weeks ago when it took the main stage on Wall Street.

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This has caused AMC stock to rise exponentially from just over $12 per share two weeks ago to a new all-time high of over $70, with the stock price doubling this week and causing trading activities concerning AMC to be halted several times. Aside from the usual schemes from the WallStreetBets playbook, this week AMC’s Investor Connect program had been offering free popcorn so that any shareholder would get a treat to go with their massive profits, a move that went to great lengths in building even more hype for retail investors, with a statement from the company's CEO thanking retail investors for basically saving AMC.

Regardless of AMC’s playful attitude towards this unprecedented rally, the company has remained quite diligent by warning potential buyers in its latest SEC filing that “current market prices reflect the market and trading dynamic related to our underlying business.” Looking at the bright side of this whole situation, AMC and other theater companies actually had something to look forward to as moviegoers have gradually started flocking back to cinemas in recent weeks thanks to the likes of Godzilla vs. Kong, Demon Slayer: Mugen Train, and A Quiet Place 2.

Overall, AMC stock has absolutely exploded in 2021 with 2,850% gains, yet just like the GameStop frenzy that came before, this rally is likely to end badly for many of those inexperienced with trading activities, as the stock is down 30% at the time of writing. On the other hand, the trend for social media trading seems like it’s here to stay since it’s only a matter of time before Reddit traders find their next favorite meme stonk they can use to profit off many overexposed parties in Wall Street.

With the kind of profits posted by meme stonks and some cryptocurrencies, which absolutely demolish those of any other asset, AMC stock mimics the kind of growth only found in Pokemon cards nowadays, which are so coveted nowadays retailers have to invent entire security protocols just to sell them.

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Source: The Wall Street Journal, AMC