AMC surpasses $12B market cap as Redditor asks if it can go 'to the moon'
📷[**Erin Fuchs**](https://www.yahoo.com/author/erin-fuchs)**·Deputy Managing EditorThu, May 27, 2021, 4:19 PM**
* [**GME+4.77%**](https://finance.yahoo.com/quote/GME?p=GME)
* [**BBBY+1.92%**](https://finance.yahoo.com/quote/BBBY?p=BBBY)
* [**AMC+35.58%**](https://finance.yahoo.com/quote/AMC?p=AMC)
Shares of AMC Entertainment ([AMC](https://finance.yahoo.com/quote/AMC?p=AMC)) surged over 45% in afternoon trading Thursday, pushing the market capitalization of the country's largest theater chain past $12 billion amid a boost from retail investors.
At market close, AMC was still up over 35% with a market value of just $11.94 billion.
AMC, [which narrowly avoided bankruptcy](https://www.cbsnews.com/news/amc-movie-theater-avoid-bankruptcy/) earlier this year, belongs to a class of so-called meme stocks including GameStop ([GME](https://finance.yahoo.com/quote/GME/)) and Bed Bath and Beyond ([BBBY](https://finance.yahoo.com/quote/BBBY/)). Retail investors active on the [subreddit WallStreetBets](https://www.reddit.com/r/wallstreetbets/) have crowded into stocks of these underdog companies in an effort to force short sellers to buy them to cover their positions. This squeeze on short sellers drives the stock prices even higher.
Brick-and-mortar video game retailer GameStop, the most notable meme stock, soared over 15% on Wednesday and added another 5% on Thursday.
Retail traders on WallStreetBets talked up AMC on Thursday, with one calling the theater a "rocket ship," another urging fellow Redditors "don't sell!" and still another asking if it "can go to the moon?"
Full article available at link below:
[https://finance.yahoo.com/news/amc-surges-reddit-trade-wall-street-bets-201933578.h](https://finance.yahoo.com/news/amc-surges-reddit-trade-wall-street-bets-201933578.html)
https://www.reddit.com/r/StockMarket/comments/nmnc4z/amc_surpasses_12b_market_cap_as_redditor_asks_if/
