Rate Fears Roil Markets, AMC Plunges While "APE" Swings, Bed Bath Sinks Again, and Is Amazon Signify-ing a Bid? 8/22/22
Carl Quintanilla, Jim Cramer and David Faber explored markets under pressure amid concerns about the potential for more aggressive rates hike by the Fed. Investors are bracing for Fed Chair Jerome Powell's speech at the Jackson Hole symposium later this week. The anchors also stayed on top of the "meme stock madness": AMC Entertainment shares plunge in reaction to rival Cineworld’s bankruptcy warning – amid a volatile trading debut for AMC’s Preferred Equity Units (ticker symbol "APE"), while Bed Bath & Beyond shares tumble again in wake of investor Ryan Cohen selling his entire stake in the struggling retailer. Also in focus: Amazon reportedly among the companies bidding for Signify Health, sending shares of the healthcare platform soaring.
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