The seasons are changing but one thing is not: the incredible popularity of AMC Entertainment Holdings, Inc. among retail investors.
Robinhood lists AMC at #3 on its leaderboard for September, behind only Apple and Tesla:
Apple is the largest stock in the entire market, with a market cap of $2.6 trillion. That’s 113 times larger than AMC. Tesla is 32 times larger.
AMC is more popular than massive companies like Amazon, Microsoft, or Walt Disney. It’s also significantly hotter than Robinhood Markets itself, at #12.
Even more incredible is that AMC has held the #3 position for six months straight. AMC also holds the #3 spot on Fidelity.
My understanding is that the Robinhood leaderboard reflects how many users own a particular stock, not the total amount held. So the amount of money in Apple, Tesla, or Amazon held by Robinhood accounts could be much greater than the amount in AMC, given those companies’ massive size.
Nonetheless, when a $23 billion business is more widely held than some of the most powerful companies on earth, I stand up and take notice.
More on AMC:
Charting The Huge Drop in AMC Fails to Deliver
For Retail Traders, AMC Has Become the Only Meme Stock
Short Sellers Lost $1 Billion Yesterday in AMC and GameStop
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Photo: “Robin Hood sai à noite” by freddie boy is licensed under CC BY-SA 2.0
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