‘Trey’s Trades’ host on meme stocks’ growing popularity, AMC ‘Apes’
‘Trey’s Trade’s’ YouTube host Trey Collins discusses meme stocks and the financial media’s perception of retail investors.
AMC investors picked up where they left off last week pushing shares higher over 20% on Monday.
|AMC||AMC ENTERTAINMENT HOLDINGS INC||52.72||+4.72||+9.84%|
The stock, which advanced nearly 100% last week and has gained over 2,631% this year, continues to feel the love from the retail trading community.
AMC SHORT-SELLERS MAULED LAST WEEK TO THE TUNE OF $2B
GameStop, ahead of its annual meeting and earnings on Wednesday, also saw solid gains.
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AMC STOCK HALTED BY NYSE, ROBINHOOD TAKES THE HEAT
The Securities and Exchange Commission, in a statement shared with FOX Business, said it continues to track the volatility in "certain stocks" without naming specific corporations.
SEC Statement on Meme Stock Volatility 6/7/21
SEC staff continues to monitor the market in light of the ongoing volatility in certain stocks to determine if there have been any disruptions of the market, manipulative trading, or other misconduct. In addition, we will act to protect retail investors if violations of federal securities laws are found.
There were no major developments on Monday with either of the companies. AMC CEO Adam Aron, who has stepped up his communication in recent weeks with this investor base and even did a YouTube interview last week with Trey's Trades, did pat himself on the back Monday for those efforts.
In a tweet, he said:
"The financial press has banner headlines about how innovative AMC and I are in reaching out to our individual investors. Odd that they praise something so obvious. CEO’s and professional management teams should listen to shareholders. You own our company, we listen to you. Adam."
AMC CEO TAKES TO TWITTER TO UNDERSTAND HIS RETAIL INVESTORS
As for GameStop, Monday's rally has pushed the annual gains for the shares to 1,386%.
Chewy.com founder Ryan Cohen, who is the company's largest single shareholder via his RC Ventures with a 12.7% stake, is expected to be named chairman of the board.
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