AMC Entertainment stocks skyrocket. Why company warns shareholders might lose investment? – By Benzinga (Detroit Free Press) / June 5 2021
The S&P 500 traded slightly higher in a holiday-shortened trading week.
So-called meme stocks were once again the talk of the town on Wall Street as shares of AMC Entertainment, GameStop and other popular social media stocks skyrocketed on heavy trading volume. AMC took the opportunity to complete two capital raises over a three-day stretch but warned shareholders they could lose “all or a substantial portion” of their investment.
On Tuesday, online finance company SoFi Technologies gained more than 12% on its first day of trading after completing a merger with a special purpose acquisition company run by venture capital investor Chamath Palihapitiya. SoFi focuses on student loan refinancing, stock and cryptocurrency trading, mortgages, personal loans and wealth management services.
Bitcoin prices dropped below $37,000 on Friday after influential Tesla CEO Elon Musk tweeted a broken heart emoji along with the hashtag #Bitcoin. In May, Musk said Tesla would no longer be accepting Bitcoin as a payment method due to concerns over the negative environmental impact of Bitcoin mining.
