AMC Earns EPIC Reddit Bump That Totally Might Not Be Market Manipulation By Chinese-Backed Tech Company
File this one under fools and their money along with an American economy that's increasingly subject to China-supported social media hype that temporarily benefits this Chinese biz with a faux HQ near Kansas City.
Check-it . . .
AMC stock prices soared Wednesday after a group of investors on the social media platform Reddit vowed to save the struggling movie theater chain by buying up shares. The stock quadrupled in one day, but economics professors KMBC 9 spoke with say the boost is likely only temporary.Despite movie theaters largely sitting empty, AMC stocks skyrocketed more than 300% in one day.