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In just two days after getting drawn into the crazy Wall Street drama caused by the Reddit clan of WallStreetBets, which previously sent retailer GameStop into the price stratosphere, AMC Entertainment Holdings shares went from roughly $4 to $16.

WSB is a semi-outlaw trading platform that often utilizes apps such as Robinhood that have helped game-ify investing to trade high-risk leveraged options. Members usually post screenshots, with equal braggadocio, of their huge financial gains or catastrophic losses.

The group previously targeted GameStop intending to make profits while also sinking the Melvin Capital Management hedge fund, which was betting against the stock. On Tuesday, Tesla founder Elon Musk tweeted ‘Gamestonk!!’ and a WSB link.

One WSB group member posted a screenshot supposedly converting $50,000 into an astounding $22 million off of the GameStop spike due to a gain of 41,000 percent.

This takes us back to AMC; several theaters were forced to close during the pandemic. Some WSB posters started to speculate earlier this week, “can we do the same for $AMC as we did for $GME?” and targeted the theater as their next goal. Deadline noted that due to the pandemic, total domestic box office revenue had declined more than 80 percent, but now AMC is again trading at its 2018 valuation.

It’s clear that because of social media, things move FAST, and as usual, we came across a few hilarious Twitter user reactions:

 

 




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Ethiopia Habtemariam Promoted To Chairman And CEO Of Motown Records

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Ethiopia Habtemariam has been promoted to the chairman and CEO of Motown Records.

After six years serving as president of Motown Records, Habtemariam has officially been promoted to CEO. She will now report directly to Universal Music Group chairman and CEO Sir Lucian Grainge. As a part of Habtemariam’s promotion, she will now have more independent power.

Before her new title, Habtemariam managed Motown’s move from New York to Los Angeles in 2014, Yahoo! News reports. She will now move forward with Motown’s mission to develop partnerships with creative and entrepreneurial brands and entities, including Atlanta-based Quality Control Music (QC). The collaboration with QC has jumpstarted the careers of popular artists, including City Girls, Migos, Lil Baby, and more.

“Motown is such an important voice and, just as when it was founded by Berry Gordy, its impact continues to be felt around the world. Motown’s resurgence and powerful partnerships under Ethiopia’s leadership has advanced the label’s legacy as home to some of today’s biggest hitmakers and most meaningful voices in music,” said Grainge in a statement.

In response to the new move, Habtemariam called her promotion an “honor.”

“It’s an incredible honor to represent and define what Motown is today. I’ve always understood the power of music and the responsibility I have, not only to continue to be an advocate for artists and creators, but to forge new paths for entrepreneurs and to lift up our next generation of executives around the world. I’d like to thank Lucian for his constant support and guidance over the years; my Motown team for all they have done and continue to do; the Capitol team for their help in building Motown over these past six years; Clarence Avant who has always taught me about the power of responsibility; and to Mr. Berry Gordy, for his faith in me to carry on his legacy.”




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‘My Biggest Concern Was History Repeating Itself’

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Prince Harry told Oprah Winfrey that he was scared “history would repeat itself” before leaving the royal family.

It’s been one year since Prince Harry and Duchess of Sussex Meghan Markle exited Buckingham Palace following a slew of attacks from the British media. Now, in a new clip from the couple’s first full-length interview since their exit, Harry tells Winfrey that he was afraid his family would suffer the same scrutiny his mother, Princess Diana, did.

“For me, I’m just really relieved and happy to be sitting here talking to you with my wife by my side because I can’t begin to imagine what it must have been like for her going through this process by herself,” Harry said in the clip. “It’s been unbelievably tough for the two of us, but at least we had each other,” he added.

Diana’s mistreatment by the British media was heavily documented and has been portrayed on television for years, most recently in Netflix’s series “The Crown.” Harry has been very open about condemning media, highlighting the photographers who chased after his mother the night she died. Diana died in a car crash in 1997 as paparazzi were pursuing her.

The new interview is set to air on Sunday; Winfrey says nothing is off-limits. “Were you silent, or were you silenced?” Winfrey asks Markle in her separate interview. “You said some pretty shocking things here,” Winfrey said.

Despite what people may think, Harry says leaving the royal family was a moment for the couple to take a step back. “It was never walking away; it was stepping back, rather than stepping down,” he said in a 17-minute interview with James Corden last week. He added that his “life is always going to be about public service. Meghan signed up to that, and the two of us enjoy doing that.”

 

 




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Man Says He’s Kim Kardashian’s Husband, Tries To Break Into Her Home

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A trespasser claiming to be Kim Kardashian’s husband tried to gain access into her Los Angeles home last week.

The unnamed 24-year-old man managed to breach the main entrance gate at Kardashian’s Hidden Hills home at approximately 6:30 p.m. on February 24th. However, he was stopped before he could enter the house. When security questioned him, he claimed that he was married to the “Keeping Up With the Kardashians” star.

The security officers alerted law enforcement, who cited him for trespassing. The man was also placed on a 72-hour psychiatric hold but has since been released.

The ordeal was particularly frightening because it comes nearly four-and-a-half years after the 40-year-old beauty mogul was tied up and robbed by thieves in her Paris hotel room. Since then, she has noticeably increased her security, with guards at “every edge” of her property.

Neither Kim Kardashian nor her reps have publicly commented on the break-in attempt.




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