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Lordstown Motors: Here’s the next shoe to probably drop on battered investors

Reuters

AMC jumps more than 18%, other ‘meme stocks’ mixed

The company said in a filing last week that over 80% of its shares were held by retail investors. Rallies in AMC and video game retailer GameStop, as well as a fresh crop of so-called meme stocks – companies popular with retail investors congregating on forums such as Reddit’s WallStreetBets – have breathed fresh life into a frenzy that first garnered widespread attention in January, when an unwind of bearish bets helped send GameStop’s shares up more than 1,600% that month. Billionaire investor Paul Tudor Jones of Tudor Investment Corp told CNBC on Monday that the “craziest mix of fiscal and monetary policy” has helped fuel the blistering rallies in some meme stocks as well as other assets, such as special purpose acquisition companies, or SPACs.

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