AMC Entertainment (NYSE:AMC) stock is getting a boost on Friday as shareholders, or “apes” as they call themselves, are pushing the stock up.
The push for AMC stock today comes along with a new hashtag: #AMC100K. This is yet another short squeeze attempt from investors in AMC Entertainment. The goal is to squeeze out hedge funds and send the price of the stock soaring to, well, $100K.
The hashtag is currently trending on Twitter (NYSE:TWTR) with loads of AMC apes advising others to buy and hold the stock. Let’s take a look at a few of those Tweets below.
— All For AMC, AMC For All (@AllForTrumpTru1) May 14, 2021
Apes ! be aware that sell at 50$ or 100$ is not a Squeeze but just the normal price of AMC thanks to the 3 last months of buying. HF have created more than 2 billions fakes shares. When they will cover it will send the price to 10k, 30k or more !!#AMC #AMCSqueeze #AMC100K
— French_AMC_APE (@YassineCorse) May 13, 2021
— wallstreetrevolution (@wallstreetrevo1) May 14, 2021
— Talking Stonks (@TalkingStonks) May 14, 2021
If you aren’t in on #AMC or know what’s going on, at this point thats on you. Don’t be asking people for money. You had your shot. Get in now or be left behind. #AMC100K #AMCSQUEEZE pic.twitter.com/XSt0NuykHZ
— Russle Shackleford (@VAlibertylovr) May 14, 2021
Of course, this is far from the only time that AMC investors have tried to short squeeze the stock. Meme-living traders have been bumping up the price of AMC for months now since the big Reddit push earlier this year.
In fact, we just saw a similar attempt to rocket the price of AMC stock higher earlier this week. This had investors collecting together on Thursday to promote the stock on Twitter with the hashtag #AMCSqueeze. That hashtag is still being shared today alongside the new #AMC100K one.
The attempt to send AMC stock soaring today does have it seeing heavy trading in the early morning. As of this writing, more than 38 million shares have changed hands. For perspective, the stock’s daily average trading volume is 91.3 million shares.
Unfortunately, that heavy movement isn’t transferring over to major gains in price. AMC stock is only up about 2.1% Friday morning, which has it trading at roughly $13 per share. Those apes still have a long way to go before they reach #AMC100K.
Of course, there are other stocks and news looking into today.
That includes loads of recent crypto news affecting the price of digital assets. A few examples include Dogecoin (CCC:DOGE-USD), Binance (CCC:BNB-USD), and Shiba Inu (CCC:SHIB-USD). Investors can learn more about these topics at the links below.
More Friday Market News
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.