AMC Entertainment (NYSE:) stock fell 20% on Wednesday following a strong surge in shares of major meme stocks.
The recent volatility in these stocks is tied to social media influence. The surge came after Keith Gill, better known as “Roaring Kitty” on social media, made a return to the platform X, previously known as Twitter, after being absent for three years.
Gill gained notoriety among meme stock traders in 2021 when his investment in GameStop (NYSE:), initially worth $53,000, ballooned into a multimillion-dollar stake as the stock’s value skyrocketed due to intense speculation and…