The return of Roaring Kitty to social media has prompted the meme stock craze to return, and AMC Entertainment raised approximately $250 million in new equity capital on Monday by selling 72.5 million shares at an average price of $3.45.
The movie theater chain sold 72.5 million shares at an average price of $3.45
The return of Roaring Kitty to social media has prompted the meme stock craze to return, and AMC Entertainment raised approximately $250 million in new equity capital on Monday by selling 72.5 million shares at an average price of $3.45.
AMC stock surged another 130% in pre-market trading on Tuesday and was still up 102% after markets opened. In the afternoon, the trading was halted, and the stock was at $7, up 36%. The closing price of AMC shares rose by 32% to $6.85.
On Monday, AMC stock closed up 78.35% to $5.19 per share, as the meme stock craze returned due to the resurfacing of Roaring Kitty, aka Keith Patrick Gill, on social media. He is known for igniting GameStop $GME’s massive meme stock short squeeze in 2021.
On Sunday, he posted a picture on X $TWTR showing a gamer leaning forward in the chair, indicating intense focus — and prompting speculation among followers that he’ll return to Reddit $RDDT. The tweet has been viewed by over 24 million people as of Tuesday morning.
During Tuesday’s premarket trading, GameStop’s stock soared over 127% thanks to the meme craze. The video retailer’s stock closed at $30 on Monday, up over 74%.
GameStop short-sellers have lost more than $2 billion as the meme stock rally continues
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