Hi Reader, here's what you need to know for August 11th in 3:03 minutes.

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Today's big stories

“Meme stock” AMC Entertainment jumped after reporting a better-than-expected quarter
Robinhood's stock has had a wild ride, so here's what you need to know before jumping on the bandwagon – Read Now
SoftBank’s quarterly results offered a window into what other big tech investors might be thinking

And… Scene

What’s Going On Here?

Movie theater chain AMC Entertainment lifted the curtain on stellar quarterly earnings this week, setting the stage for some stock market drama on Tuesday.

What Does This Mean?

AMC’s second-quarter revenue and profit both came in ahead of investors’ expectations as more filmgoers than thought flocked back to theaters. Having been hard hit by the pandemic, the world’s largest movie chain now says it’ll stop losing money by the fourth quarter of 2021 – although that’s based on total US box office revenue rising rapidly to hit $5.2 billion this year, up from hundreds of millions currently.

Still, AMC’s playing its part: under the terms of a recent deal with Warner Bros. Entertainment, the mergertastic movie studio’s new flicks next year will be available in AMC theatres for 45 days before streaming services can get their hands on them. That could bode well for future earnings – which might be why AMC’s stock price initially rose 6% on Tuesday.

Why Should I Care?

For markets: It’s not all smoke and mirrors.
January’s “meme stock” frenzy has helped leave AMC’s stock up over 1,500% this year – but the company’s taken advantage of this perhaps irrational increase to improve its fundamental financials (tweet this). AMC sold new shares at an elevated price in June: now, with some $2 billion in the bank, it’s better placed to bounce back as economies (and malls) reopen, potentially justifying its higher valuation after all.

The bigger picture: Doubling down on the meme theme.
AMC’s embraced its retail stock star status. Having already offered shareholders free popcorn, it recently announced plans to accept payment in bitcoin by the end of the year. The success of this approach partly depends on bitcoin’s price subsequently rising – but if its 34% increase so far this quarter can be sustained, the movie theater chain may be onto something.

You might also like: How to spot the next AMC Entertainment.

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2. Analyst Take

Can Robinhood’s Wild Ride Make It The Next GameStop?

What’s Going On Here?

There’s no escaping it: Robinhood’s initial public offering was a failure.

But since then, the stock’s been on a wild ride: last week it rallied 7%, 24%, and then 50%, before crashing and bouncing back again.

And some investors now think Robinhood’s only going one way: to the moon.

But whether they’re right or not depends on the factors driving Robinhood’s share price, and – surprise surprise – none of them are the company’s fundamentals.

So that’s today’s Insight: the five factors driving Robinhood’s shares right now, and whether you should get involved too.

Read or listen to the Insight here

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