AMC EntertainmentShort
Double bottom forming on the 15 min chart this morning?
AMC has done nothing but gone down, since Roaring Kitty pumped GME in early December, and AMC traders thought they were supposed to go along for the ride.
AMC is trading at all time lows and it's not looking great long term. There's a possible short squeeze here if meme stocks make a comeback in 2025, but I wouldn't hold my breath.
At $5.66 there's a debt to stock conversion that will probably limit the upside. Plus management has a track record of diluting shares when the stock tries to move up.
AMC may not go bankrupt, but the financials look horrible and if meme traders abandon it, it's going to remain a penny stock.
Here's the news from this morning.
AMC short percent of float has risen 7.31% since its last report. The company recently reported that it has 53.05 million shares sold short, which is 13.94% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.53 days to cover their short positions on average.
This is not financial advice.
AMC is trading at all time lows and it's not looking great long term. There's a possible short squeeze here if meme stocks make a comeback in 2025, but I wouldn't hold my breath.
At $5.66 there's a debt to stock conversion that will probably limit the upside. Plus management has a track record of diluting shares when the stock tries to move up.
AMC may not go bankrupt, but the financials look horrible and if meme traders abandon it, it's going to remain a penny stock.
Here's the news from this morning.
AMC short percent of float has risen 7.31% since its last report. The company recently reported that it has 53.05 million shares sold short, which is 13.94% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.53 days to cover their short positions on average.
This is not financial advice.
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