It happened again this week - the meme stocks went haywire. This time the poster child wasn’t GameStop, but AMC. You can read recaps on the crazy AMC week here and here. My favorite recap is from Josh Brown appearing on MSNBC - here. As you can see in the table below, shares of AMC, while down 23.41% over the last two days, were up a whopping 80.66% for the week. They are up 393.41% for the month, and just a mere 2159% year to date.
Hi Jay. New subscriber here. After your June 6 blog post mentioning meme stocks I got tired of watching these youthful 'unsophisticated traders' make money I decided to join them. I bought Wendy's (WEN) out of the money calls at the 6/8 open and hung on for the ride. Man that was fun. Not so much fun today 6/9 watching all my paper profit disappear. Fear not though...I have diamond hands.
One correction - the Flash Crash was May 6th, 2010 not 2020 - obviously. I hate that you can't edit after you hit the publish button.
Hi Jay. New subscriber here. After your June 6 blog post mentioning meme stocks I got tired of watching these youthful 'unsophisticated traders' make money I decided to join them. I bought Wendy's (WEN) out of the money calls at the 6/8 open and hung on for the ride. Man that was fun. Not so much fun today 6/9 watching all my paper profit disappear. Fear not though...I have diamond hands.