Tokenized AMC on Robinhood Chain trades at massive premium to underlying stock amid liquidity squeeze
Tokenized AMC shares on Robinhood's Chain platform traded at roughly $130-200 per token while the underlying AMC stock traded around $2.50, driven by a liquidity squeeze with only about $40,000 of a $2.5B market cap company tokenized. Multiple independent accounts reported the on-chain price nearly hitting $200 and warned of potential 98% losses for buyers.
Detected & updated continuously · Source: Nebula
Sources
@RuneCrypto_
$AMC on Robinhood CHAIN trading at $130 and $2 on wall street / robinhood app why? it has no liquidity only $40,000 tokenized of a $2.5B marketcap company is tokenized if you’re buying tokenized AMC at $134 you might be about to lose 98% https://t.co/2MfYqqI2F9
@shockermandan
The $2.50/share AMC stock on Robinhood just ticked over $110. Driven by liquidity squeeze on Absolute Cinema https://t.co/SLNbN7il8v
@shockermandan
Tokens paired to AMC on Robinhood 'broke the stock', with the on-chain stock price nearly hitting $200. No doubt it will be part of the lore of robinhood and on-chain trading. https://t.co/ehlnoaYZy7
@shockermandan
Hit $60 now. The rest of the day is going to be interesting. Anything paired with AMC is going to see some wild swings. https://t.co/1eVKvZSMhT