It's Tuesday June 1st. Welcome to Marketfoolery. I'm Chris L with me today, Jason Moser.

Thanks for being here.

Hey, happy to be here. Thank you for having me.

We're going to talk about a potential baby Burke share.

We're going to talk about a tech acquisition, but we're going to start with the movies.

Shares of AMC entertainment up more than 15% this morning after the movie theater chain announced

it sold more than 8 million shares to mudrick capital management, which is an investment firm based in New York.

AMC says it is going to use the money to do a few different things, including upgrade the theaters.

And boy, the folks on Reddit are having a party because I mean this stock is more than doubled in the past week.

It's up more than 1,000% year to date. And I have no stake in this. I'm not long AMC.

I am not short AMC, but I will say that as much as any stock in the public market, this appears to be completely divorced from the fundamentals of this business.

You very, very well put, very diplomatically put. I appreciate that.

Yeah, I mean I guess it feels like AMC is providing more entertainment just through its share movement alone.

It's providing more entertainment than the movies that it shows in its theaters.

It doesn't seem like it's going to be ending anytime soon.

I absolutely agree raising money makes sense in this kind of environment when chairs are doing what they're doing.

But I mean we need to put some context around what's been going on with this business because you put it very well.

And there were some numbers in the release that really offered I think some context here.

And so I'm going to read over these numbers real quick. It's just kind of mind bending to think about.

During this year, 2021 to date, daily trading volume for the stock has ranged from around 23.6 million shares to 1.25 billion shares within just that one little stretch of 2021.

Within the last seven business days, the market price of the stock has gone from an intraday low of $12.05 to $36.72 on May 28th.

And they also made a point that they have made no disclosure regarding a change to the underlying business during that period.

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