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Why Torchlight Energy and AST SpaceMobile Popped Today -- but AMC Stock Dropped

·3 min read
Why Torchlight Energy and AST SpaceMobile Popped Today -- but AMC Stock Dropped

Shares of Torchlight Energy Resources (NASDAQ: TRCH) and AST SpaceMobile (NASDAQ: ASTS), two meme stocks recently favored by the Reddit crowd, are going "to the moon" today, rising 18.2% and 15.1%, respectively, as of noon EDT. In contrast, sentiment on AMC Entertainment Holdings (NYSE: AMC) stock is shifting into reverse, and the stock is down 9.3%. AMC stock is suffering from a Barron's report last night that pointed out that at the same time as the value of AMC's debt is rising, its stock price is falling.