Business
ASX to rise, AMC paces renewed meme stock rally – Markets – The Australian Financial Review
Australian shares are set to open higher, bolstered by steady commodities prices. April trade and retail sales data on deck.
In a tweet, Mohamed El-Erian said the latest surge in AMC reflects a twin management success: getting early control of the narrative, substituting financial resilience for dilution concerns; and targeting retail investors as part of a broader communication strategy.
AMC closed at $US62.55 in New York; Bespoke said the average analyst price target on AMC is currently a little over $US5.
Bitcoin was up 4.1 per cent to $US37,727.07 near 6.40am AEST on bitstamp.net.
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