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30 January 2021, 9:03 am EST By By now, almost the entire internet knows about the meme stock rally that had been happening, wherein a group of independent investors worked together through platforms like Reddit and helped raise the stocks of some struggling companies, notably GameStop and AMC and now, the latter had been given new hope as the meme stock helped save it from its $600M debt. (Photo : Lorenzo Cafaro from Pixabay) AMC is now free from its $600M debt through meme stock rally. Meme Stock Rally Rescues AMC In a report by Polygon, the stunning turn of events happened when a private equity firm called Silver Lake decided to convert the corporate bonds it held into AMC Entertainment Holdings stock. ....
29 January 2021, 2:45 am EST By Amid all the frenzy between independent investors rallying behind struggling companies like AMC, GameStop, and Blackberry and Wall Street investors, a popular Facebook trading discussion group had been shut down by the Mark Zuckerberg-owned company. (Photo : Burak K from Pexels) The ban happened amid the ongoing stock frenzy. Facebook Bans Trading Group According to Reuters, the Facebook Wall Street discussion group called Robinhood Stock Traders were apparently shut down for violating the platform s policy. The 23-year-old Chicago native creator of the group, Allen Tran, said that he woke up on Wednesday, January 27, with a notification from Facebook, saying that they had disabled the group, which had over 157,000 members. ....