AMC's Blockbuster Comeback: Short-Seller Slam Dunk!

Ladies and gentlemen, let’s talk about AMC! Yes, the same AMC that’s been the darling of the meme stock crowd. Not only did AMC snap a five-day losing streak like a wrestler breaking free from a chokehold, but it also shattered records with a whopping 476.3 million shares traded! That’s more action than a Marvel movie marathon!

And speaking of action, the shorts betting against AMC are feeling the heat! They got burned so bad, they probably need a fire extinguisher. S3 Partners is telling us those poor souls lost a cool $127 million in just one day. Before this rollercoaster, shorts were riding high, up by $102 million, but now they’re down $25 million for 2024. It’s like going from hero to zero faster than you can say "popcorn prices."

Let’s not forget the meme-stock era vibes here, folks. Remember GameStop? AMC is giving us some serious déjà vu. Retail investors are coming in like a horde of zombies, pushing the stock up and giving shorts nightmares worse than a horror flick.

AMC’s management says the box office is still feeling the pinch from last year's strikes. Less movies means less moolah. But fear not, because Benchmark analyst Mike Hickey is keeping the faith, saying AMC's management is like MacGyver, finding creative solutions for that debt mountain due in 2026.

Revenue might be down 6%, but AMC isn’t throwing in the towel just yet. They’ve managed to keep the cash registers ringing and even increased market share. Hickey believes the box office will bounce back in the second half of 2024 faster than a superhero sequel.

So, what do we do? We keep our eyes on AMC like it’s the latest blockbuster hit, because in this market, the drama is far from over!