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AMC Became the People’s Stock by Not Being a GameStop Remake

On its way to the moon, the movie theater chain raised cash—something the video game company didn’t. But meme-driven retail investors are still taking a big risk.

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Illustration: Gwendal Le Bec for Bloomberg Businessweek

In a TikTok video with nearly a million likes, a cocky young guy walks into an AMC theater wearing a white, backwards ball cap. An attendant asks him if he needs anything. “I’m just making sure the theaters are running smoothly,” says ball cap guy.

The cashier does a double take. “Do you work here?”