![]() ![]() "If you're running AMC and you've been given this essentially gift horse and you have the ability to float more stock, you have to do it. I think it's good for the future of finance," he said.Īt the same time, Sosnoff said that AMC's decision to sell shares generating around $800 million in cash and a bid for investor support to sell an additional 25 million shares are smart moves by CEO Adam Aron. I think the opportunity to participate in something speculative that you think you own, I think that's a really good thing. Sosnoff said he's not worried about a generation of investors leaving the market entirely if the meme stock trade ends badly, which was what happened when the dot-com bubble burst starting in 2000. "It's definitely the retail investor leading," Sosnoff said, as other meme stocks such as Bed Bath & Beyond, BlackBerry and GameStop also experienced high volatility this week. This "generational move" is being played out in grand fashion in this week's wild ride for investors in AMC who saw the stock about double Wednesday, lose almost 18% Thursday, and fluctuate between gains and losses Friday. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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