Home Investments The Memes: Virgin Galactic Wednesday’s Big Loser

The Memes: Virgin Galactic Wednesday’s Big Loser

FILE PHOTO: The Reddit logo is seen on a smartphone in front of a displayed Wall Street Bets logo in this illustration taken January 28, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

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AMC Entertainment Holdings Inc. (NYSE:AMC) got a lift Tuesday when CEO Aron said that the theater chain was working on a system to accept Bitcoin for payment. The shares are off 60% since 2 June.

AMC traded down about 4% to 30.50, in a 52-wk range of 1.91 to 72.62.

Meta Materials Inc. (NASDAQ:MMAT) announced Wednesday morning that it will be reporting quarterly earnings after markets close Thursday. Meantime, holders of Meta stock are still waiting for that special dividend payment they were promised when they bought Torchlight Energy stock ahead of the reverse merger in late June that created the company.

Robinhood Markets Inc. (NASDAQ:HOOD) took a bit of a hit Wednesday, likely the result of Tuesday’s announcement that the company is going to spend $140 million to acquire Say Technologies, a company that offers a platform that can help shareholders cast their proxy votes. Following its IPO, Robinhood had an estimated $6.4-B in cash, so the acquisition represents just over 2% of the company’s cash pile.

Virgin Galactic Holdings Inc. (NYSE:SPCE) was Wednesday’s big loser among the meme stocks. The company’s share price was mostly due to reports of customers lined up to pay $450,000 for a spin in space is not very long.

Virgin Galactic stock traded down about 13.78% to 27.2 in the Noon hr Wednesday. The stock’s 52-wk range is 14.27 – 62.80, and the average daily trading volume is 41.7-M/shares.

Have a prosperous day, Keep the Faith!

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