Why AMC Stock Soared Almost 30% in August

Meme stocks like AMC Entertainment (NYSE: AMC) have had quite a ride since the retail trading crowd initially drove share prices up earlier this year. After realizing exponential gains, AMC shares tumbled 40% from mid-June to late July as investors began questioning whether the delta variant would reverse progress in reopening the economy. But AMC shares regained those losses in August, rising 27.3%, according to data provided by S&P Global Market Intelligence.

AMC CEO Adam Aron has said that 80% of the company's shareholder base is now made up of retail investors. And Aron has worked to engage with those investors on social media and through the business itself.

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Source Fool.com