AMC Shares Surge 95%

Depop deal makes Etsy biggest gainer in S&P 500
By Newser Editors and Wire Services
Posted Jun 2, 2021 4:00 PM CDT
AMC Shares Surge 95%
In this photo provided by the New York Stock Exchange, specialist Peter Mazza works at his post on the trading floor, Tuesday, June 1, 2021.   (Nicole Pereira/New York Stock Exchange via AP)

Stocks ks managed to end with modest gains on Wall Street after a day of wavering back and forth. The S&P 500 edged up 0.1% to 4,208.12 Wednesday, with help from technology stocks. The Dow Jones Industrial Average rose 25.07 points, or 0.1%, to 34,600.38. The Nasdaq rose 19.85 points, or 0.1%, to 13,756.33. AMC Entertainment nearly doubled after announcing a program to communicate directly with its large base of individual investors, who have helped send the stock soaring this year, the AP reports. The huge 95.6% gain came a day after the stock rose 22.7% after announcing a stock sale.

Other stocks like GameStop that have been championed on online message boards also rose. Technology companies were doing much of the heavy lifting for the benchmark S&P 500. Chipmaker Nvidia rose 2.8%. Etsy jumped 7.7% for the biggest gain in the S&P 500 after the online crafts marketplace said it will buy Depop, an app that’s popular among young people looking to buy and sell used clothing and vintage fashions from the early 2000s. Energy companies also made broad gains as oil prices ticked more than 1% higher. Occidental Petroleum rose 3.2%.

(Read more stock market stories.)

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