[ad_1]
Until today, the AMC subdirectory was a quiet corner of the Internet where owners of cars built by the American Motor Corporation, the dead since 1988 automaker behind such hits as the Gremlin, seen below above. New purchases, restoration projects, DIY tips, this was your typical car enthusiast group. But today, the AMC subdirectory was briefly overtaken by investors and hobbyist day traders hoping to find and share information about AMC Entertainment Holdings, the world’s largest movie theater chain. We’re just confused like you are.
The reason for the intrusion? Stock market speculators on the WallStreetBets subreddit. This subreddit made headlines this week after their class actions launched the stock price of video game retailer GameStop into the stratosphere in a convoluted and at times confusing effort to harness a huge financial hedge fund. After successfully pushing GameStop’s stock price from around $ 20 at the end of 2020 to nearly $ 350 at the time of writing, WallStreetBets members quickly turned to AMC Entertainment Holdings, a another low-cost action they thought was ripe for coordinated value. -breeding.
In an effort to spread the word and stimulate conversation, traders, somewhat logically, found the “AMC” subdirectory and barged in, hoping to discuss stock trading ideas and tactics. . What they didn’t realize was that they had found the wrong group of AMC fans.
“THIS IS A CAR UNDER-REDUCTION, NOT A STOCK MARKET UNDER-REDUCTION,” reads an article, written in frustration after several now-deleted off-topic posts on the movie channel crowded the automotive community in the past. silent.
An AMC subdirectory moderator later posted a post himself apologizing for the slow removal of posts unrelated to American Motors, citing their location in Germany as the reason for the delay (most WallStreetBets traders operate in the US time zones).
As of now, it looks like the AMC subdirectory has returned to normal, posting about cars rather than money maneuvers involving actions in a movie chain. And so our hopes for a revived Gremlin fade again.
This content is created and maintained by a third party, and uploaded to this page to help users provide their email addresses. You may be able to find more information about this and similar content on piano.io
[ad_2]
Source link