finance.yahoo.com

Trader books $2M paper gain from MEME rally tied to Robinhood-AMC feud

Robinhood logoRobinhood
Sig1.85Sen-2.20Env0.00Soc0.00Gov-2.40
AMC Entertainment logoAMC Entertainment
Sig2.22Sen-0.92Env0.00Soc0.00Gov+0.55

A crypto trader recorded an unrealized gain of over $2 million in under 12 hours by trading a meme coin, MEME, that surged amid controversy involving Robinhood Markets and AMC Entertainment. On Sep. 3, AMC CEO Adam Aron criticized Robinhood for offering a tokenized AMC stock without registering under U.S. securities laws and threatened legal action to stop the trading.

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