The legendary battle between the meme and retail investors hodling GME stonks going head to head with the hedge fund companies was an epic tale that will go down in history. Diamond hand hodlers became millionaires and ever since then, investors have been looking for the next GME stonk to hodl and experience financial freedom.
If you had the opportunity to participate in such a historic event, with the possibility of doubling, even tripling your initial investment, then would you take the risk? That opportunity may be here today. Retail traders appear to be once again in the midst of another battle against the rich and powerful Hedge Fund companies.
AMC Entertainment (NYSE: AMC) is the stock this time around. Retail investors took to social media to rally and stand together to buy and hodl AMC shares. Last Friday, more than 650 million AMC shares changed hands, far surpassing its 30-day trading volume average of 106 million. The price of the stock increased exponentially up to $36 before dropping to its current price of $25 today.
Like GME, AMC seems to be the standout that could indeed be involved in a short squeeze attempt. Its short interest has more than doubled, and according to the most recent data, the latest count showed there was still more than 20% short interest in the name.
GME shares skyrocketed from under $20 to an all time high of $489 once shares were driven into a short squeeze. This time around, the meme investors believe that AMC shares can be driven even higher- they are targeting $1000!
It certainly will not be an easy fight. As with the GME short squeeze back in January, certain stock brokerages stepped in and halted the buying of stocks. Reddit forums were either shut down or censored, and bots were being used to spread disinformation FUD. The meme investors however could not be stopped, regardless of what was thrown in front of them they still managed to find each other, regroup, and hodl. Diamond hands were forged, and millionaires were born.
It’s been said that “history doesn’t repeat itself, but it does rhyme.” I have personally seen millionaires being made from meme stocks like GME, and meme crypto currencies like Dogecoin. Will that be the case for AMC?
Only time will tell, but one thing is for certain, those smooth brained apes will take to social media and prepare for another beautiful week, hodling until they reach the moon!
I personally believe that thanks to the internet and social media, ANYTHING can happen. I plan to buy only a few shares of AMC and will sit back and enjoy the show. If you plan on joining the fight, only invest what you are willing to lose. Feel free to use my referral link if you decide to create a Robinhood account so you can buy AMC stock and also get THREE free stocks!
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*Disclaimer- I am not a certified financial planner/advisor, certified financial analyst, economist, CPA, accountant, or lawyer, or anything important for that matter. The contents of this article are for informational, educational, and entertainment purposes only and do not constitute financial, accounting, or legal advice. Always do your own research.*
