AMC Entertainment

AMC Entertainment Fights Back

AMC Entertainment shares rebound over 50% from May lows

AMC’s stock has been rallying since May 12, when it traded down to a low of $9.70. Shares of the movie theater chain have gained strength, thanks to the stock’s promotion to the Russell 1000 Index, the announcement that there will be no more share dilution this year and very favorable box office figures.

For a company that was on the brink of bankruptcy just over two years ago, AMC has been improving its fundamentals every quarter since the pandemic, and recent box office numbers indicate that the recovery is continuing. 

AMC, just like GameStop Corp. was caught up in a social media-driven trading frenzy that turned it into a so called “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. At that time AMC Chief Executive Adam Aron said the new financing meant any talk of imminent bankruptcy “is completely off the table.” 

Earlier this year AMC also made a $27. 9 million investment in Hycroft Mining Holding Corp. a gold and silver miner that operates far outside AMC’s core business.

Consumers are returning to theaters, and studios have ramped up their blockbuster releases. During its recent fiscal first-quarter results, AMC reported better-than-expected revenue and a narrower loss. CEO Aron stated, “AMC is no longer on its heels.”

In the beginning of June, Goldman Sachs released data that indicated retail investors had liquidated most of their meme-stock purchases. However, shares are up over 50% from the May lows. 

Adam Aron Responds on Twitter

With less than Three weeks away from reporting its second-quarter results. AMC share holders may have something to be excited about! The daily EMA 13 has crossed over the SMA 50 with a wedge starting to form just below the $15.79 resistance as investor’s speculate on the potential for a major news catalyst.

AMC CEO Adam Aron has mentioned keeping his word and spoke of a “pounce date” not happening before the Second Quarter 2022 earnings are announced, in response to a shareholder on Twitter. 

AMC Entertainment Heating Up

Things may not be perfect at AMC. However, with short interest rising and the positive catalysts building, the prospects are promising for AMC Entertainment stock to pounce. At least five movies topped $10 million in domestic ticket sales. The third quarter itself is also off to a blazing hot start. With just two weeks into the quarter, ticket sales are 8% ahead of where they were at this point in July of last year. In fact, you would have to go all the way back to 2016, to find a hotter start to the first 14 days of July. Also, recent data is showing that domestic box office numbers have already beaten pre-pandemic levels in early Q3. So, this could be great news for AMC investors. Regardless, VipLiveAlerts-Pro member’s that jumped on the NYSE:AMC rebound swing idea off the low $9.70, are now up over 50% and looking forward to the Q2 earnings announcement on Thursday, August 4.

AMC Entertainment
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Disclaimer: This content is only intended for informational purposes. Before making any investment, you should always do your own research and analysis.
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