We’ve seen a lot of meme stock madness in 2021. Even by this year’s crazed standards, however, last week’s action in US cinema chain AMC really was a sight to behold. At the start of 2021, AMC was facing bankruptcy and the stock was trading around $2. On Tuesday, AMC warned investors its market capitalisation was significantly higher than pre-pandemic levels and current valuations reflected “trading dynamics unrelated to our financial performance or prospects”. “AMC is now worth more than ... ah, who are we kidding, none of this matters anymore.”

Source: The Irish Times June 07, 2021 23:00 UTC