AMC Shares Jump as New Meme-Stock Favorite Returns to Form
- Movie chain’s shares have surged almost 2,500% this year
- Russell Index shakeup could be problematic for meme stocks
Photographer: Mandel Ngan/AFP/Getty Images
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AMC Entertainment Holdings Inc. rose for the first day in three amid a broader advance in meme stocks and as regulators warned they are monitoring the frenzied trading in the group of shares for any signs of market manipulation.
The stock closed 15% higher at $55 on Monday. Its shares more than doubled on the first two days of a holiday-shortened last week, but gave back some of those gains after insiders cashed in with a flurry of share sales.