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bif

(23,971 posts)
Wed Jun 2, 2021, 01:10 PM Jun 2021

Wow, my AMC stock is on fire!

I bought it originally at $16. Then the pandemic hit and it fluctuated between $2 and $6. I told everyone to keep buying it at 2 and sell it at 6. You could triple your money every week or two Now it's getting the Gamestop treatment. It went from $30 to the mid-60s today! They had to halt trading for a while this afternoon. I think I'll ride it up to $300 and then unload it.

20 replies = new reply since forum marked as read
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rzemanfl

(30,288 posts)
1. Sell enough to get your original investment back, then gamble with the casino's money.
Wed Jun 2, 2021, 01:24 PM
Jun 2021

That's my unsolicited advice.

bif

(23,971 posts)
14. That's what I was considering doing
Thu Jun 3, 2021, 01:27 PM
Jun 2021

But it's only a small part of my portfolio. And if I lost it all, it wouldn't be a huge deal. Plus I played it safe with Tesla a couple years ago. I bought it at $200 and sold it at $280.Then it went up to $1,000, split and then climbed up again. Didn't lose money, but didn't make a lot either. So I'm going to take a chance and see where it goes over the next week or so.

bif

(23,971 posts)
16. Thanks. Just added it to my queue.
Thu Jun 3, 2021, 03:46 PM
Jun 2021

I was a huge Star Trek fan growing up. I rarely review docs, but you never know!

WA-03 Democrat

(3,267 posts)
2. So this is just a momentum play?
Wed Jun 2, 2021, 01:26 PM
Jun 2021

All time high at +$60 and doubling today and you believe it will hit $300 after a ride. What makes you think it’s going to go up $240? I didn’t understand GameStop other then it’s a giant bubble. Tesla stock I consider the same.

 

Pantagruel

(2,580 posts)
3. "I think I'll ride it up to $300 and then unload it."
Wed Jun 2, 2021, 01:45 PM
Jun 2021

You might want to check what the "insiders" and officers of the firm are doing with their stock?

ColinC

(10,667 posts)
5. Nobody knows. Hopefully everybody buying into it treats it like the gambling it is
Wed Jun 2, 2021, 01:55 PM
Jun 2021

And doesn't spend more than they can afford to lose on it.

WA-03 Democrat

(3,267 posts)
13. AMC up 3000% YTD
Thu Jun 3, 2021, 10:06 AM
Jun 2021

And it is down to $45ish today. It’s been the best performing US stock this year second only to GameStop. Let’s assume it snaps back to $60.

I looked at AMC debt. It’s not in a good spot. It is a meme Reddit stock for sure.

Where do you following the market and look for advice? I am interested in reading more and have played “mania” stocks in the past (dot.com boom). I had then and made it “safer” was what I thought was a good social internet group pitching ideas and strategies. It worked and I greatly benefited. I have no idea where these are discussed and which ones are better or best to watch.

ColinC

(10,667 posts)
4. I bought 10 at 13 and sold at 26. Then bought 20 at 50 and am holding short term.
Wed Jun 2, 2021, 01:54 PM
Jun 2021

If it does a GameStop, I'm going to sell it and put it all back into dogecoin, which was largely depleted due to my wedding.

jimfields33

(18,837 posts)
8. Im waiting for my carnival stock to do this
Wed Jun 2, 2021, 02:51 PM
Jun 2021

I bought at 9 dollars and bought a lot more at 12. Now it’s 30. I’d love it to go to 300 or more. Lol.

TheRealNorth

(9,629 posts)
9. Sounds like a pump and dump
Wed Jun 2, 2021, 03:20 PM
Jun 2021

If you already have stock in AMC it probably would be an opportune time to cash in.

Otherwise, you're just hoping a bigger fool will come along to buy the stock at a higher price.

 

Tomconroy

(7,611 posts)
10. I'm beginning to think that the Reddit stock craze,
Wed Jun 2, 2021, 04:44 PM
Jun 2021

The SPAC phenomenon and the crypto currency craziness may be enough to tank the market.

Best_man23

(5,122 posts)
18. I bought 400 shares at $11 on a limit order
Fri Jun 4, 2021, 11:48 AM
Jun 2021

Sold half the position this morning at $52. Risk is off and what's left is the house's money.

bif

(23,971 posts)
19. Good for you!
Sun Jun 6, 2021, 05:50 PM
Jun 2021

I was considering doing that, but I always make conservative moves like that. And I often regret selling too soon. So I'll see if it makes another big runup. I looked at the Gamestop chart and I think I'll use that as an example. If I lose it all, oh well!

bif

(23,971 posts)
20. Well, I played it safe and sold enough to cover my initial investment.
Thu Jun 10, 2021, 05:42 PM
Jun 2021

So now I have 300 shares that I don't have to worry about. If it goes sky high I'm golden. But I think these meme stocks or whatever you want to call them are going to be short lived. But that's what I said about bitcoin too!

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