One of the hottest stocks in 2021 is AMC Entertainment. Retail traders have pushed the movie theater stock higher as a reopening play and a short squeeze.
Could one CNBC host be a contributor to the recent gain in shares?
What Happened: CNBC host Jim Cramer has taken a liking to several of the stocks heavily mentioned on WallStreetBets.
One of Cramer’s recent favorites is AMC Entertainment Holdings AMC.
“Bears – good move stepping aside on the $AMC..WSB – you are welcome. Glad we are on the same page!” Cramer tweeted several days ago.
Another tweet from Cramer praised the work that AMC Entertainment CEO Adam Aron is doing with the company.
“The combination of Adam Aron’s great work with AMC, his coming slate of films and his support from my friends and colleagues at Wall Street Bets is a potent brew,” Cramer tweeted.
The tweets from Cramer have caught Aron's attention.
“It is interesting and revealing that the legendary Jim Cramer has become impressed by what retail investors are doing to give Main Street real influence in shaping Wall Street,” Aron tweeted.
Cramer thanked Aron in a follow-up tweet.
Related Link: Those Still Shorting GameStop, AMC Are Out Of Their Mind Says Cramer
Why It’s Important: Cramer is a well-known personality with his “Mad Money” show on CNBC and his appearance on other programming throughout the trading day. Cramer has 1.6 million followers on Twitter Inc TWTR.
Cramer has also pushed a series of tweets about Beyond Meat Inc BYND as a potential short squeeze play and favorite of WallStreetBets.
Cramer has taken a liking to the crowd from WallStreetBets and the positive reception to the attention he is giving to the “meme stocks.”
“I am thrilled that my friends at Wall Street Bets are so kind to me. I am getting much good personal feedback and am thrilled!!!,” Cramer tweeted.
The interactions with Aron could lead to on-air interviews with Cramer that could bring continued focus on the stock.
AMC Price Action: Shares of AMC Entertainment are up over 1,100% in 2021 and have risen over 110% in the last five days.
Shares of AMC Entertainment were up 17.45% at $31.36 at last check.
Jim Cramer photo via Tulane Public Relations on Wikimedia.
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