- NYSE:AMC gained 1.35% during Wednesday’s trading session.
- Aterian is the meme stock of the moment after gaining 45% over the past month.
- Hycroft Mining stock has lost the momentum from AMC’s investment announcement.
NYSE:AMC used a late-day rally for the second straight session as markets rallied following the Fed rate hike announcement from Chairman Jerome Powell. On Wednesday, shares of AMC rose by 1.35% and closed the trading day at $15.72. The stock was down nearly 5.0% in early morning trading, and still managed to underperform the broader markets despite the strong buying pressure into the close. All three major indices jumped sharply following the announcement to post a second straight day of gains. The Dow Jones added 932 basis points, the S&P 500 gained 2.99% and the NASDAQ rose by 3.19% during the session. It was the best single session performance for the Dow and S&P 500 since 2020.
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AMC and GameStop (NYSE:GME) are still the lead meme stocks, but in April there was a new name making the rounds on social media. Digital eCommerce company Aterian (NASDAQ:ATER) saw gains of more than 100% during the month of April, as retail traders targeted the heavily shorted stock. Short interest in the stock still remains high, so there could definitely be a repeat of April’s squeeze in the near future.
AMC stock forecast
Earlier this year when AMC announced an investment into Hycroft Mining (NASDAQ:HYMC), investors and analysts alike were confused. CEO Adam Aron stated that he wanted to pass on the good will from retail traders that had previously saved AMC. While Hycroft’s stock saw an influx of investments shortly after the announcement, the stock has since fallen by more than 33% in the last month and by nearly 70% off of its high price of $4.37.
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