Trading in US cinema chain is halted several times as amateur traders buy in huge volumes to punish short-sellers
Shares in AMC Entertainment, the biggest movie theatre business in the world and the owner of Odeon in the UK, have soared this week amid the resumption of the “meme stock” wars in which an army of small traders have taken up cudgels against Wall Street, prompting wild market swings.
Trading in the US firm was halted several times on Thursday as amateur traders scrambled to buy stock in huge volumes, as much as doubling the share price to more than $69 at one stage – valuing the business at $30bn – while professional stock analysts reckon it should be less than $4.
