Don't Count on a Comeback for AMC Stock
$AMC Entertainment(AMC.US$ $AMC Preferred Equity Unit(APE.US$
Meme traders darling from the last year, AMC Entertainment is trading near its 52-week low of $5.47 and has lost more than 75% in 2022. And given its bleak fundamentals, the stock might not be able to sustain its gains, even if it manages a rally. Let’s discuss its prospects in detail….
Meme traders darling from the last year, AMC Entertainment is trading near its 52-week low of $5.47 and has lost more than 75% in 2022. And given its bleak fundamentals, the stock might not be able to sustain its gains, even if it manages a rally. Let’s discuss its prospects in detail….
AMC Entertainment Holdings, stock was recently downgraded by B. Riley analyst Eric Wold, citing drained-out box-office recovery in the post-pandemic era. The company operates 22 of the 50 highest-grossing theaters in the United States.
"Although consumer demand remains intact, in our opinion, the number of films released to theaters remains ~50% below pre-pandemic levels — which impacts both the cadence of moviegoing and the ability to catch trailers for upcoming films,” Wold said.
Shares of the retail-investor favorite of 2021 are trading below their 50-day moving average of $10.44 and 200-day moving average of $14.94. Moreover, the stock hit its 52-week low of $5.47 on October 13, 2022.
Over the past month, AMC has lost 27.1% to close the last trading session at $6.35. It has lost 76.7% year-to-date and 84.5% over the past year.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Mindfield : I like the stock but thanks for the financial advice , think II'll just hodl
Jodom_JayOP Mindfield:
