Image default
Greek News

To the Moon! And Back? (infographic)

Carried by meme investors on (in)famous subreddit WallStreetBets, AMC Entertainment saw its share price nearly double on Wednesday before continuing its ascent in pre-market trading on Thursday. The latest jump marks the temporary culmination of a rally that began last week when chatter about sending AMC “to the moon” picked up on WallStreetBets once again.

The movie theater chain hit hard by the COVID-19 pandemic has lately overtaken GameStop as the main target of meme investors aiming to boost the share price of heavily shorted stocks enough to trigger a short squeeze. The practice has repeatedly worked this year, forcing hedge funds to cover their positions and take heavy losses in some instances.

The following chart recounts the wild ride 2021 has been for some of these stocks, namely AMC, GameStop, and Tilray, a Canadian cannabis company that briefly found itself in the WallStreetBets crosshairs in February. As of market close on Wednesday, AMC was up a whopping 2,850 percent year-to-date with GameStop posting an equally impressive 1,398-percent gain so far in 2021. Tilray, up more than 600 percent at one point in February, shed most of its Reddit-associated gains by now, leaving the stock up 130 percent for the year.

The Canadian cannabis giant serves as a cautionary tale for those looking to jump on the AMC bandwagon now. What goes up, must eventually come down and for every lucky investor making a windfall on GameStop, AMC or Tilray, there’s going to be a few that got burned for being late to the party.

source statista

Infographic: To the Moon! And Back? | Statista

You will find more infographics at Statista

Σχετικα αρθρα

Greek exports to Saudi Arabia up by 107%

admin

Where Investors Earned The Most From Bitcoin In 2020 (infographic)

admin

Greece: The application that shows the zone prices for each property is now available

admin

Greek economy: The book of offers for the new 10-year bond has opened

admin

Greece: Huge subsidy for the acquisition of electric taxis

admin

Global Corporation Tax Levels In Perspective (infographic)

admin

Fair market value up by 40% on property prices

admin

The Rise and Fall and Rise and Fall of Bitcoin (infographic)

admin

EC approves €800 million for support of the Greek tourism sector

admin

Maternity Leave – The Best Countries for Women (infographic)

admin

Philip Morris International and Papastratos S.A. – Leaders in sustainable development

admin

Where Tea Generates the Most Money (infographic)

admin