Robinhood tokenized stock supply surges 19x as AMC meme coins peak

TREE NEWS reports: Robinhood’s tokenized AMC stock supply ballooned from 152,106 to 2,895,758 shares in three days, a 19x increase, as its issuance agent bought and custodied about $7.6 million in real AMC shares. The move, which coincided with meme coins $MEME and $CINEMA trading against the token, capped intraday gains at 22% premarket, with prices reverting within a week. IOSG Ventures’ analysis concludes the arb mechanism prevents sustained squeezes, unlike GameStop’s 2021 dead float.