If I follow their suggestions now, we’ll run out of cash,” Aron argued. At $435.3 million for the second quarter, that’s down 12% year over year and has plummeted 75% in the last two years. In short – it makes sense why AMC is still forging ahead with its share sale plans despite a ndax review relatively positive earnings beat. AMC shares closed at a record low on Wednesday, plunging 37% to hit a price of $8.62. That’s on top of a 35% share price slide that happened after AMC converted its stock in August, taking AMC’s share price down 83.7% since the start of the year.

1. The ‘at the market’ offering program will sell up to 40 million shares of class A common stock, with Citigroup Global Markets, Barclays Capital, B. Riley Securities, and Goldman Sachs facilitating the sale.
2. For a few days in August 2022, AMC tried to cross a nearly 12-month trendline that connects the September 2021 peak (32.43, adjusted for a stock split) with lower highs in November 2021 (28.23) and early April 2022 (21.09).
3. Last month, AMC’s CEO Adam Aron released a statement on X stating the goal for the company was “Do not let AMC fall into financial ruin, ensure that AMC survives, put AMC on a path to eventually thrive”.
4. In recent months, short interest grew to nearly 16% of total float.
5. View analysts price targets for AMC or view top-rated stocks among Wall Street analysts.

At this point, AMC will definitely need weeks, if not months, to build a proper new base in bullish fashion. Not all breakouts work, especially when the stock market uptrend goes under pressure or into a correction. When IBD notes the market in a confirmed uptrend, it signifies that buying demand is healthy among institutional investors.

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The previous record-low stock price close was $10.73, seen in January 2021, with Wednesday’s close considerably under that. Last month, AMC’s CEO Adam Aron released a statement on X stating the goal for the company was “Do not let AMC fall into financial ruin, ensure that AMC survives, put AMC on a path to eventually thrive”. Today, the chain is home to all of the top movies and offers attractions like IMA, Dolby Surround Sound, PRIME, 3-D features, Plush Power Recliners, and Dreamscape as xm forex review well as full restaurants in many locations. In addition to entertainment, AMC Entertainment has a number of options for businesses and organizations that include big-screen supported meetings and events. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. Investors interested in automatically receiving news and information when posted to our website can also visit to sign up for email alerts.

Q1 2024 In Review and Q2 Market Outlook

The movie-theater chain has been on a roller-coaster ride over the past few years that took it from beleaguered pandemic victim to meme-stock phenomenon. AMC used the steep rise in its share price to tap into equity and debt markets, raising $917 million in January 2021. 5 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for AMC Entertainment in the last year. There are currently 3 sell ratings and 2 hold ratings for the stock.

The company made headlines again in 2011 with the launch of its STUBS rewards program, a premier program that offers discounts and other deals to its members. For a few days in August 2022, AMC tried to cross a nearly 12-month trendline that axitrader review connects the September 2021 peak (32.43, adjusted for a stock split) with lower highs in November 2021 (28.23) and early April 2022 (21.09). For the very aggressive trader, this trendline breakout near 15 offered an uber-speculative entry.

AMC Entertainment’s stock was trading at $6.12 at the start of the year. Since then, AMC shares have decreased by 50.8% and is now trading at $3.01. Once shares start picking up some serious gains, watch for a new bullish chart pattern will form.

Will The Shorts Cover AMC Stock This Year?

In August last year, AMC held a very respectable 96 Relative Strength Rating. This score means AMC stock had outperformed 96% of all stocks in the IBD database over the past 12 months. And the 3-month RS Rating at the time zoomed to a highest possible 99, according to MarketSurge data.

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When choosing growth stocks for the biggest potential gains based on the key elements of IBD’s growth stock investing paradigm, focus on those with a Composite Rating of 90 or higher. Shooting for a 95 or higher, particularly at the start of a new bull market, is even better. Strong future profits could lead to increasing accumulation by large funds and other institutional investors. A powerful rebound could force short sellers to cover their positions, helping to propel shares even higher. Let’s first revisit the hyper-fast run during the meme stock boom of 2021.

AMC Entertainment saw a increase in short interest in the month of March. As of March 15th, there was short interest totaling 36,330,000 shares, an increase of 14.4% from the February 29th total of 31,750,000 shares. Based on an average daily volume of 14,190,000 shares, the short-interest ratio is presently 2.6 days.