Mark Cuban Tutors Reddit Traders On Next Move As AMC Entertainment, GameStop Fall; “If You Can Afford To Hold The Stock, You Hold”

deadline.com:

Shares of AMC Entertainment are down nearly 40% today on another wild ride, reversing gains after an explosion of support by retail traders that started last week catapulted stock of the pandemic-pummeled chain to levels not seen since 2017.Around midday, shares of the nation’s largest cinema operator are changing hands at $8.21 That’s still a few bucks up from where it landed after announcing good news on Jan.

25 — a raise of $713 million in fresh financing, enough cash to make it through 2021 and the worst of the coronavirus. That was heartening after warnings in December that AMC would be out of cash in January if it couldn’t raise more funds, prompting fears of bankruptcy that had knocked shares to a low of $1.91.GameStop is down 50% at