Reddit traders are making a splash in the market, and the market is loving them back. The r/WallStreetBets crowd has sent shares of so-called meme stocks soaring as retail investors rally around beaten-down shares with heavy short interest, and in return, companies are thanking them for becoming invested in their businesses.
AMC Entertainment (NYSE: AMC) CEO Adam Aron made the bold move recently to bring retail investors further into the fold, delaying the movie theater chain’s annual meeting so more small investors could attend, then giving them special rewards at the theater, like free popcorn.
While marijuana producer Tilray (NASDAQ:TLRY) hasn’t gone so far as to give away free pot to shareholders, CEO Irwin Simon wants it known he too appreciates the support the company has received.
In an interview with CNBC, Simon said he “absolutely” welcomes the retail investor and is “very, very supportive. We love them.” But that may be as far as the similarities between AMC and Tilray go — and investors would be better off putting their money with the marijuana producer than the movie theater operator, even if they don’t get any free stuff.
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