AMC Stock 7days chart

AMC Shares Rise as Roaring Kitty Returns, Meme Stock Rallies

AMC Entertainment shares have experienced a rollercoaster ride and saw a new high as Roaring Kitty returns and boosts meme stock.

On Monday, the cinema chain’s stock closed the session with a staggering 79.73% surge to $5.23 per share. The momentum continued pre-market trading, with a further 34.80% climb to $7.01 apiece, intensifying the market’s pulse.

Roaring Kitty, also known as Keith Gill, has reawakened the GameStop mania of 2021, which boosted AMC’s shares.

The Kansas-based firm’s recovery has been a giant leap after its shares plummeted in value during the pandemic. The company used its meme stock to raise fresh funds to remain in operation.

Moreover, AMC stock rose due to Roaring Kitty’s comeback after three years, reigniting interest in cinema chain shares through speculative buying.

Meanwhile, Gill’s video post on X has acquired over 18 million views and sent GameStop shares climbing 74.46% to $30.46 per share to close Monday’s session.

Furthermore, the resurfacing of the meme stock frenzy for the video game giant has effectively supported AMC in riding the latest wave in retail investor interest on Wall Street.

However, the cinema giant’s representatives refused to comment about the firm’s dramatically increasing shares.

Meme-Stock Traders Boosting AMC’s Finances by Burning Shorts

Retail traders huddling with AMC in anticipation of burning short sellers possibly assist the cinema chain in bolstering its finances.

Meanwhile, due to the meme-stock mania that led the company’s share to surge, it entered a fundraising deal known as an at-the-market offering. This agreement allows it to open opportunities to sell its shares to purchasers in the open market.

To fuel its recovery, AMC has started fundraising to acquire its long-term goals over catering to short-term investors looking for quick profits.

As of May 8, the firm could raise about $125 million in additional cash through the program, which means it could trade 24 million shares based on Monday’s closing price.

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