Halfway through 2021, not all stonks, or shares favored by retail investors on r/WallStreetBets, have skyrocketed, but some like but AMC Entertainment Holdings Inc AMC have figuratively reached the moon.
What Happened: Among the retail investor favorites, AMC Entertainment has risen over 2,573.6% in the six-month period leading up to July.
See Also: How To Buy AMC (AMC) Stock
GameStop Corporation GME, which brought the focus on short squeezes at the beginning of the year, has soared 1,036.6% in the same period.
While BlackBerry Ltd BB has soared during the last six months at different points, the cumulative six months gains are relatively modest at 84.3%.
The much-shorted shares of Clover Health Investments Corp CLOV have fallen 20.6% on a half-yearly basis.
Rocket Companies Inc RKT failed to shoot up as the Jay Farner-led company’s shares have fallen 4.3% this year.
Why It Matters: This month, AMC surpassed GameStop in terms of valuation thanks to the dizzying rally seen in its shares.
As of Wednesday, AMC's market capitalization touched $29.09 billion, while GameStop’s was at $15.16 billion.
The sights of traders on WSB are set beyond names like AMC, GameStop, and Clover, according to CNBC’s Jim Cramer who noted the price movement in the shares of Wendy’s Co WEN thanks to a post on the forum this month.
Despite the upwards march of AMC, Wall Street traders turned to a complex bearish options strategy to bet against the theater chain and other popular stonks in recent days, as per Cramer.
The stonk rallies have been the highlight this year, beginning with GameStop in January, and similar dizzying surges have since also been seen in cryptocurrencies like Dogecoin DOGE/USD.
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