This study examines the proliferation of COVID-19 misinformation through Plandemic—a pseudo-documentary of COVID-19 conspiracy theories—on social media and examines how factors such as (a) themes of misinformation, (b) types of misinformation, (c) sources of misinformation, (d) emotions of misinformation, and (e) fact-checking labels amplify or attenuate online misinformation during the early days of the pandemic. Using CrowdTangle, a Facebook API, we collected a total of 5732 publicly available Facebook pages posts containing Plandemic-related keywords from January 1 to December 19, 2020. A random sample of 600 posts was subsequently coded, and the data were analyzed using negative binomial regression to examine factors associated with amplification and attenuation. Overall, the extended an extended Social Amplification of Risk Framework (SARF) provided a theoretical lens to understand why certain misinformation was amplified, while others were attenuated. As for posts with misinformation, results showed that themes related to private firms, treatment and prevention of virus transmission, diagnosis and health impacts, virus origins, and social impact were more likely to be amplified. While the different types of misinformation (manipulated, fabricated, or satire) and emotions were not associated with amplification, the type of fact-check labels did influence the virality of misinformation. Specifically, posts that were flagged as false by Facebook were more likely to be amplified, while the virality of posts flagged as containing partially false information was attenuated. Theoretical and practical implications were discussed.