• Steve Sosnick is the chief strategist at Interactive Brokers and the head trader at Timber Hill.
  • In an interview, he broke down three potential drivers of AMC’s almost 2,500% surge this year.
  • He also shared how long the retail-fueled rally might last amid frenetic options activities.

The meme-stock-investing saga is back in full force.

As of Monday’s market close, AMC Entertainment and GameStop were up a whopping 2,446% and 1,913% this year. The S&P 500 had gained a more modest 14%.

Unlike GameStop’s stratospheric rally, which famously upended hedge funds including Melvin Capital and Citron Research, AMC’s meteoric rise has benefited at least one hedge fund. New York’s Mudrick Capital unloaded its entire stake in AMC for a profit last week on the same day that news came out that it had purchased $230.5 million worth of the stock.

Verder lezen?

Word abonnee van Business Insider

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