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Retail Traders Cashing In AMC’s Gains Showcase Growing Fatigue

  • Stock buying from amateur investors has broadly been drying up
  • Hedge funds look to anticipate retail sentiment shifts: Vanda
Bloomberg business news
Retail Investors Look for Next Hot Trade in New Meme-Stock Wave

AMC Entertainment Holdings Inc.’s cult-like following of amateur investors took advantage of gains after a record Labor Day to sell shares on a net basis for the first time in seven months.

Retail investors sold $2.45 million in shares of the world’s largest movie-theater company on Tuesday, marking the first time the group became sellers of the stock since February, according to data compiled by Vanda Research. That reversal, despite its rising share price yesterday, is the latest example that Wall Street pros are stepping in to more-speculative pockets of the market.