"5 months later and look who hit that $1 mark first.and it's not $AMC the entertainment movie theatre it's $CS Credit Suisse the leading financial service company, advising clients in all aspects of finance, across the globe and around the clock. and it's not $AMC the entertainment movie theatre it's $CS Credit Suisse the leading financial service company, advising clients in all aspects of finance, across the globe and around the clock. Well today it's our pleasure and firm belief that Credit Suisse is worth less than $1 as a bank itself," one person-whose Twitter bio mentions AMC- tweeted this week.ĥ months later and look who hit that $1 mark first. "Back in October 22 Credit Suisse stated $AMC is worth less than $1. However, Credit Suisse indicated in October that it was not a believer in AMC when company analysts rated AMC shares a "sell" with a price target of $0.95. In early 2021, AMC shares were boosted thanks to a Reddit community and "SaveAMC" memes spread across Twitter and TikTok. financial institutions, Silicon Valley Bank (SVB) and Signature Bank.
The news about Credit Suisse has prompted concerns of a global banking crisis as it came on the heels of the seizure of two U.S. (AMC's shares were above $4 Thursday on the New York Stock Exchange.) Wednesday's decline followed news that Saudi National Bank, Credit Suisse's largest investor, would not provide the Swiss bank with additional financial assistance. Shares in Credit Suisse fell to an all-time low of $1.76 on Wednesday, a drop of more than 20 percent, before rebounding to slightly above $2 on Thursday. Supporters of the AMC movie theater chain have taken to social media to mock Credit Suisse's recent financial woes due to the investment bank giving AMC shares a poor valuation last fall. Twitter users such as and Reddit users in r/amcstock were among those taking delight in Credit Suisse's stock troubles.In October, Credit Suisse assigned AMC a penny stock valuation and recommended those holding AMC shares to sell.Credit Suisse's stock fell to an all-time low of $1.76 on Wednesday.Supporters of AMC have been mocking Credit Suisse for its recent financial woes after the investment bank gave AMC shares a poor valuation last fall.
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