How this risky strategy can leave retail investors vulnerable

“The idea that I used social media to promote GameStop stock to unwitting investors and influence the market is preposterous,” Keith Gill told Congress.  Gill — who goes by DeepF——Value on Reddit and Roaring Kitty on YouTube — testified in front of the U.S. House of Representatives’ Committee on Financial Services in February 2021. He became an influential figure online and is credited with helping inspire the epic GameStop short squeeze. Gill would screenshot his investment portfolio, showing his winnings from his GameStop position. A lot of Gill’s portfolio consisted…

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How AMC rode the meme stock rally to revitalize its business

The AMC Burbank 16 and the Batman bronze statue in Downtown Burbank. AaronP/Bauer-Griffin | GC Images | Getty Images After a year of massive stock gains, AMC Entertainment shares are starting to cool off. The movie theater chain, which narrowly avoided bankruptcy last January, was the beneficiary of a flurry of new retail investors who helped the company secure much needed capital. These ardent fans led a campaign that bolstered AMC’s shares to an all-time high of $72.62 last June. Even though shares closed Tuesday at $16.02, AMC is in…

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AMC reportedly in advanced talks to refinance debt

A man walks past the AMC Georgetown 14 Theatres in Washington, DC on June 3, 2021. Mandel Ngan | AFP | Getty Images AMC Entertainment is fast-tracking its plan to refinance its debt, according to a new report from The Wall Street Journal. The publication said the movie theater chain is in advanced refinancing talks with multiple interested parties to lower its interest burden and stretch out its maturities by several years. This follows comments made by CEO Adam Aron earlier this month that one of his major goals for…

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Tesla, bitcoin, growth stocks? Here’s what market bubbles are still looming

When a stock or sector of the market is trading way above its intrinsic value, investors may call it a “bubble.” “We would urge caution, severe caution. Be very afraid of the valuations of these growth companies,” Peter Chiappinelli, portfolio strategist at GMO Asset Allocation, told CNBC. Market bubbles are investing phenomena that can occur when valuations are driven by exuberant behavior — and they can burn investors. The last 12 months have seen several bubbles burst. Take meme stocks such as GameStop and AMC, as well as dogecoin. And…

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Reddit, fresh off a $10 billion valuation, plans a strong international push, CEO says

Reddit will use its new funding to further its international presence and explore more content types, co-founder and CEO Steve Huffman told CNBC on Friday.  “First order of business is make Reddit awesome. Make Reddit faster, more relevant, help it work for more people,” Huffman said about the company’s plans on “TechCheck.” “And then we look to the future, so internationalization is a big effort of ours. Video will be another big effort of ours, so just same strategy. Just keep moving ahead.” Reddit announced on Thursday it will raise up to $700 million…

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