{"id":128083,"date":"2021-06-08T19:50:45","date_gmt":"2021-06-08T19:50:45","guid":{"rendered":"https:\/\/precoinnews.com\/?p=128083"},"modified":"2021-06-08T19:50:45","modified_gmt":"2021-06-08T19:50:45","slug":"amc-shares-soar-to-an-all-time-high","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/amc-shares-soar-to-an-all-time-high\/","title":{"rendered":"AMC shares soar to an all-time high"},"content":{"rendered":"
New York (CNN Business)<\/cite>The rise of AMC, GameStop, Wendy’s and other Reddit-approved stocks is a clear sign that the wisdom of the crowd can help average traders make money on Wall Street. <\/p>\n Although many professional investing firms are wary of the meme stock rally, others are embracing the trend \u2014 and it doesn’t seem to be waning. But SoFi investors aren’t just flocking to meme stocks: Major companies in the S&P 500, such as Apple<\/span> (AAPL<\/span>)<\/span>, Amazon<\/span> (AMZN<\/span>)<\/span>, Microsoft<\/span> (MSFT<\/span>)<\/span> and Disney<\/span> (DIS<\/span>)<\/span>, are all among the ten biggest investments in the fund. (Tesla<\/span> (TSLA<\/span>)<\/span> is the second-largest holding, although lately it’s become both a meme stock and a top contributor to the broader market.)<\/p>\n A spokesperson for SoFi said this shows many individual investors are not just throwing their money at meme stocks. It’s more of a “barbell approach of lottery tickets and steady blue chips,” the spokesperson said.<\/p>\n
\nOne notable player is SoFi, an online-brokerage and financial services company that recently launched the SoFi Social 50<\/span> (SFYF<\/span>)<\/span>, an exchange-traded fund that invests in the 50 stocks most commonly held by customers on its platform. The ETF rebalances every month, and it currently has AMC<\/span> (AMC<\/span>)<\/span> as its top holding and GameStop<\/span> (GME<\/span>)<\/span> as the fourth-largest. <\/p>\n<\/ul>\n
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