To this day, the AMC subreddit has been a quiet corner on the Internet where owners of cars built by the American Motor Corporation have been the carmaker since 1988 behind such hits as the Gremlin, seen above. New purchases, restoration projects, DIY tips, these were your typical car enthusiast group. But the AMC sub-editor was briefly overtaken today by investors and amateur day traders in hopes of finding and sharing information about AMC Entertainment Holdings, the largest movie theater chain in the world. We just stunned like you.
The reason for the intrusion? Stock market speculators on the WallStreetBets subreddit. This subreddit is in the news this week after their joint actions launched the price of shares in video game retailer GameStop into the stratosphere in a complicated, sometimes staggering attempt to overwhelm a large financial hedge fund. Following their success in raising GameStop share prices from about $ 20 at the end of 2020 to nearly $ 350 as of this writing, WallStreetBets members soon turned their sights on AMC Entertainment Holdings, another low-priced stock they believe is ripe. was for a coordinated value. -increase.
In an effort to spread the word and spur the conversation, traders, somewhat logically, found the “AMC” subreddit and went in hoping to discuss ideas and tactics on stocks. What they did not realize is that they have found the wrong group of AMC fans.
“THIS IS A SUBREDDIT IN THE CAR, NOT A SUBREDDIT OF THE STOCK MARKET,” reads one post that was written in frustration after several in the movie theater chain did not scrape posts in the movie chain.
A moderator of the AMC subreddit later posted an own message apologizing for the slow removal of non-American Motors posts, citing their location in Germany as the reason for the delay (most WallStreetBets traders operate in US time zones).
From now on, it seems like the AMC subreddit is back to normal and instead puts over cars rather than money maneuvers for which stock takes place in a movie theater chain. And so our hopes for a revived Gremlin fade again.
This content is created and maintained by a third party and imported into this site to help users provide their email addresses. You may find more information about this and similar content on piano.io