Advertisement
New Zealand markets closed
  • NZX 50

    11,817.91
    +89.90 (+0.77%)
     
  • NZD/USD

    0.6047
    -0.0038 (-0.63%)
     
  • ALL ORDS

    7,957.80
    +32.60 (+0.41%)
     
  • OIL

    82.51
    -0.21 (-0.25%)
     
  • GOLD

    2,157.20
    -7.10 (-0.33%)
     

AMC stock halted after experiencing heavy trading volume

Trading was halted for AMC after the stock saw heavy volume on Thursday afternoon.

Video transcript

JARED BLIKRE: But now I want to move on to meme stocks because my play is a blast from the meme-friendly past, AMC Entertainment. Let me pull this up, up 14% today after several volatility trading halts. And that's on news that-- guess what, guys? There is no news. This is a meme shock. Come on.

DAVE BRIGGS: Just kidding.

JARED BLIKRE: Yeah, we're in rally mode. S&P 500 is over the 200-day moving average. And so why not? A day late and $20 in the green here. But we can see, over the last year, still mired in the bottom portion of its range. And let me pull up a three-year chart. This is going to show us the meme frenzy, and you can really see, that is not the Blackstone chart. That is a little bit more dire there.

ADVERTISEMENT

In all fairness here, is this-- does this have any predictive power about the markets, the fact that everything is kind of moving up right now? I mean, we did see this, what, late in the August highs. So some people are saying, well, when money is late to the meme stocks, maybe that's a contrary signal. I think there's more at play here, but it's fun to talk about. And hey, meme stocks perking up, always going to grab some headlines.

DAVE BRIGGS: And try to make sense of Bed, Bath & Beyond up 6.7% today.

JARED BLIKRE: Still on that one.

DAVE BRIGGS: Because we learned that 40% of their goods were out of stock ahead of Black Friday. We learned that they had dismal Black Friday sales. So it only makes sense to see Bed, Bath & Beyond surging today. Forget it. There is no news here. Wall Street Bets, well done.