Can A Legion Of Redditors Banding Together To Influence The Stock Market Actually Save Movie Theaters?

Can A Legion Of Redditors Banding Together To Influence The Stock Market Actually Save Movie Theaters?

Uproxx - News·2021-01-28 07:01

After giving the financial world a very public black eye by causing GameStop stock prices to seemingly soar out of nowhere, day traders on Reddit have turned their attention to AMC Entertainment, and it may have just pulled a major movie theater industry player from the brink of bankruptcy. In the midst of the GameStop chaos, AMC’s stock also began to dramatically surge, which is a surprise considering the company is struggling even more than GameStop due to the pandemic. With Hollywood continuing to delay major blockbusters even further into 2021, and audiences being understandably hesitant to sit in a theater for over two hours, AMC was heading for collapse until this “new class of traders” stepped in. Via CNBC, here are the numbers:

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