Rampant speculation is turning investors into traders, says Virtus' Terranova

The AMC saga took another turn Thursday. The stock tumbled as much as 30%, ending down about 18% after skyrocketing on Wednesday. Meanwhile, Tesla and the FAANG stocks came under pressure, falling in Thursday's session. Joe Terranova, senior managing director for Virtus Investment Partners, joined "Squawk Box" on Friday to discuss.