Trading was halted for AMC after the stock saw heavy volume on Thursday afternoon.
JARED BLIKRE: But now I want to move on to meme stocks because my play is a blast from the meme-friendly past, AMC Entertainment. Let me pull this up, up 14% today after several volatility trading halts. And that's on news that-- guess what, guys? There is no news. This is a meme shock. Come on.
DAVE BRIGGS: Just kidding.
JARED BLIKRE: Yeah, we're in rally mode. S&P 500 is over the 200-day moving average. And so why not? A day late and $20 in the green here. But we can see, over the last year, still mired in the bottom portion of its range. And let me pull up a three-year chart. This is going to show us the meme frenzy, and you can really see, that is not the Blackstone chart. That is a little bit more dire there.
In all fairness here, is this-- does this have any predictive power about the markets, the fact that everything is kind of moving up right now? I mean, we did see this, what, late in the August highs. So some people are saying, well, when money is late to the meme stocks, maybe that's a contrary signal. I think there's more at play here, but it's fun to talk about. And hey, meme stocks perking up, always going to grab some headlines.
DAVE BRIGGS: And try to make sense of Bed, Bath & Beyond up 6.7% today.
JARED BLIKRE: Still on that one.
DAVE BRIGGS: Because we learned that 40% of their goods were out of stock ahead of Black Friday. We learned that they had dismal Black Friday sales. So it only makes sense to see Bed, Bath & Beyond surging today. Forget it. There is no news here. Wall Street Bets, well done.