Whats AMCs Stock Forecast After Its S&P Credit Rating Upgrade?
In 2021, AMC stock became popular on social media platform Reddit. Retail investors on Reddits WallStreetBets forum pumped up the stock as hedge funds were betting heavily against it by selling short, resulting in a short squeeze. AMC, which began the year at $2 per share, skyrocketed more than 36-fold to a new all-time high of $72.62 earlier this month. This was WallStreetBets' second attempt at short squeezing the stock, and it was more successful than the first. The previous squeeze in Jan. 2021 drove AMC stock to $20. However, AMC stock is now down 41 percent from its peak as WallStreetBets traders have shifted their focus to other stocks, like Clover Health.