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AMC stock roars amid boost from Reddit, meme stock squeeze

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Yahoo Finance's Jared Blikre breaks down why AMC is surging again.

Video Transcript

JARED BLIKRE: Also want to take a check at the meme stocks here. Now, we're talking about Discovery, and we're seeing a lot of green here. And I'll throw it to you guys. You give me a ticker, and I'll tell you the story.

ZACK GUZMAN: Well, I think Akiko was going to ask about AMC. We were debating whether or not that recovery here makes sense here in this state of play, Jared. Because considering the way that these can really catch some momentum, what are you see play out there?

JARED BLIKRE: Yes, look at AMC. This stock, I think, has been up something like seven days straight. It's been on a real tear. Can see it's up an additional 8% today, 50% over the trailing month. And we'll get some perspective here by looking at what it did during the GameStop episode. That was in late January. You can see here it's-- excuse me-- it's testing its highs from March.

I haven't seen a lot of particular news about AMC other than the fact that they've been getting some upgrades. They did manage to sell I think [INAUDIBLE] money in the capital markets at the market. So that's an important development. And the market took that in stride. It wasn't really a sell the news event, even though it is dilutive, of course. I think the name of the game is they simply have more working capital. And that's important as we reopen here.