There’s Simply No Good Reason to Buy AMC Stock
There’s Simply No Good Reason to Buy AMC Stock
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
InvestorPlace-股市新聞、股票諮詢和交易提示
It's been just over a year since traders on Reddit's WallStreetBets incited the GameStop (NYSE:GME) trading frenzy and the term "meme stock" entered our lexicon. Early on, this retail army also set its sights on struggling movie theater chain AMC Entertainment (NYSE:AMC). An initial short squeeze in early 2021 took AMC stock from around $2 a share to over $20, while another one took shares to an all-time high of $72.62 in June.
交易員們剛過了一年多的時間Reddit‘sWallStreetBets煽動了遊戲停止(紐約證券交易所股票代碼：GME)交易狂熱，“表情包股票”這個詞進入了我們的詞典。早些時候，這支零售大軍也將目光投向了苦苦掙扎的電影院連鎖店AMC娛樂公司紐約證券交易所代碼：AMC)。2021年初的最初空頭擠壓將AMC的股價從每股2美元左右推高至20美元以上，而另一次空頭擠壓使AMC股價在6月份創下72.62美元的歷史新高。
Both times, the rallies proved to be unsustainable and AMC stock came crashing down. That's not surprising when you consider the company's broken business model and sky-high debt.
事實證明，這兩次反彈都是不可持續的，AMC股價暴跌。當你考慮到該公司破碎的商業模式和天價債務時，這並不令人驚訝。
The short float on AMC stock is close to 19%. If the retail army decides to target it again, we could see another temporary pop in shares. But anyone who treats the stock as a long-term hold is likely to continue experiencing losses.
AMC股票的空頭流通率接近19%。如果零售大軍決定再次瞄準它，我們可能會看到股價再次短暫上漲。但任何將該股視為長期持有的人都可能繼續遭受損失。
In short, there's nothing to attract investors to AMC stock besides momentum and hype. How far shares fall depends on the market's overall sentiment, the short float against the stock and the health of the movie theater chain.
簡而言之，除了勢頭和炒作，沒有什麼能吸引投資者買入AMC股票。股價下跌的幅度取決於市場的整體情緒、相對於股票的空頭流通率以及電影院連鎖店的健康狀況。
Insiders Dumping AMC Stock as the Business Struggles
企業舉步維艱，內部人士拋售AMC股票
The streaming wars of 2021 led to fewer blockbuster releases. After sustaining heavy losses, some firms are likely to stop simultaneously releasing movies in theatres and on a streaming service.
2021年的流媒體大戰導致大片發行減少。在遭受嚴重虧損後，一些公司可能會停止在影院和流媒體服務上同時發行電影。
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What matters for AMC now, though, are the movie release plans for 2022. "Black Panther: Wakanda Forever," "The Flash" and "Thor: Love and Thunder" are among this year's anticipated box-office hits.
然而，對AMC來説，現在重要的是2022年的電影上映計劃。《黑豹：永遠的瓦坎達》、《閃電俠》和《雷神：愛情與雷霆》都是今年期待中的票房大片。
AMC could post decent revenue growth if movie theater visits rebound sharply from pandemic levels. However, coronavirus variants continue to put a damper on the movie business, delaying movie releases and sidelining staff.
如果電影院訪問量從流行病水平大幅反彈，AMC可能會公佈可觀的收入增長。然而，冠狀病毒的變種繼續給電影業帶來阻礙，推遲了電影的上映，並使員工望而卻步。
As the company struggles to find its footing, insiders have been dumping shares at an alarming rate. CEO Adam Aron sold most of his shares late last year and another $7.1 million in January, which he said was part of his estate planning. In total, he has sold more than $40 million in shares.
在該公司艱難尋找立足點之際，內部人士一直在以驚人的速度拋售股票。首席執行官亞當·阿倫(Adam Aron)去年年底出售了大部分股份，今年1月又出售了710萬美元，他説這是他遺產規劃的一部分。他總共出售了超過4000萬美元的股票。
While Aron is supposedly getting his affairs in order, retail investors have been left holding the bag as AMC stock continues to drop.
雖然阿倫應該正在理順自己的事務，但隨着AMC股價繼續下跌，散户投資者卻揹負着責任。
Few analysts offer a fair value on AMC stock. According to TipRanks, the five analysts who cover shares have an average price target of $8.17. That's 45% below the current price.
很少有分析師提供AMC股票的公允價值。根據TipRanks的數據，追蹤股票的五位分析師的平均目標價為8.17美元。這比現在的價格低45%。
There Are Plenty of Better Investments Out There
有很多更好的投資機會
I can think of at least four better media plays for investors still toying with the idea of buying AMC stock.
對於仍在考慮購買AMC股票的投資者，我能想到至少四個更好的媒體劇本。
You could consider buying shares of ViacomCBS (NASDAQ:VIAC), which have a price-to-earnings ratio in the mid-single digits. The company's Pluto TV free streaming service has close to 50 million monthly active users.
你可以考慮購買維亞康姆CBS(納斯達克代碼：VIAC)，市盈率在個位數的中位數。該公司的冥王星電視免費流媒體服務擁有近5000萬月度活躍用户。
Or there's Roku (NASDAQ:ROKU), the streaming leader in the United States. In September, it was estimated by eMarketer that a third of the U.S. population used a Roku device.
否則就會有羅庫美國流媒體領軍企業納斯達克(Weibo：Roku)。9月份，據eMarketer估計，三分之一的美國人口使用Roku設備。
Or how about Netflix (NASDAQ:NFLX)? The undisputed king of streaming content is trading more than 40% below its all-time high following the tech sector sell-off. As subscriber growth slows, Netflix is raising its prices to boost revenue, because it knows it can.
或者網飛(納斯達克：nflx)？在科技板塊拋售之後，這位無可爭議的流媒體內容之王的股價比歷史最高水平低了40%以上。隨着訂户增長放緩，Netflix正在提高價格以增加收入，因為它知道自己可以做到。
Finally, if you're looking for a more direct play on the movie business, there's Cinemark Holdings (NYSE:CNK). In the third quarter, the firm posted solid adjusted EBITDA of $44.3 million compared to a loss of $128 million a year before.
最後，如果你想更直接地涉足電影業，這裏有Cinemark控股公司(紐約證券交易所代碼：CNK)。第三季度，該公司公佈了穩健的調整後EBITDA為4430萬美元，而去年同期為虧損1.28億美元。
The Bottom Line on AMC Stock
AMC股票的底線
AMC is a meme trade that came and went. Now that the easy money has disappeared, the company must prove it has a fundamentally sound business. That's going to be a tough sell.
AMC是一種來來去去的迷因交易。現在，寬鬆的資金已經消失，該公司必須證明自己的業務從根本上講是穩健的。這將是一次艱難的推銷。
Fundamental investors are likely to continue to shun AMC stock until shares fall into the single digits. To trend higher, AMC needs to post strong results and issue upbeat guidance. Only then might shareholders who paid too much get their money back.
基本面投資者可能會繼續迴避AMC股票，直到股價跌至個位數。要想走高，AMC需要公佈強勁的業績併發布樂觀的指引。只有到那時，支付過高價格的股東才能拿回他們的錢。
Chris Lau is a contributing author for InvestorPlace.com and numerous other financial sites. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. He shares his stock picks so readers get original insight that helps improve investment returns.
克里斯·劉(Chris Lau)是InvestorPlace.com和許多其他金融網站的特約作者。克里斯在股票市場有20多年的投資經驗，在Seeking Alpha上經營着DIY-IY價值投資市場(DIY VALUE Investment Marketplace On Seek Alpha)。他分享自己的選股，這樣讀者就能獲得有助於提高投資回報的原創性洞察力。
The post There's Simply No Good Reason to Buy AMC Stock appeared first on InvestorPlace.
最早出現在InvestorPlace上的帖子是“根本沒有購買AMC股票的好理由”。