Retail investors in India, South Korea join meme craze for AMC stock

AMC Entertainment skyrocketed as much as 127% on Wednesday, extending its total gains for the year to more than 3,000% and pushing its market capitalization briefly above $33 billion.

Retail investors in India and South Korea have joined the meme-stock frenzy by piling into AMC Entertainment Holdings Inc. through local trading platforms giving them access to U.S. markets.

The money-losing movie-theater chain is among the five most-traded U.S. stocks over the past week on both Vested Finance and Stockal, two India-focused platforms for retail investors to buy U.S. equities. AMC Entertainment has accounted for 14% of trades on Vested this week, a greater proportion than Tesla Inc., Shopify Inc. and Facebook Inc.

AMC Entertainment skyrocketed as much as 127% on Wednesday, extending its total gains for the year to