AMC ends wild trading day down 18% after share sale

CNBC2021-06-04

KEY POINTS AMC Entertainment shares ended a rollercoaster trading session down 18% on Thursday after the company announced a stock sale. The stock price dropped as low as $37.66 during the session ...

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Comments

JLau
2021-06-05
JLau
AA needs to PR some very good news like merger
HLPA
2021-06-04
HLPA
Wait for $5. Meanwhile enjoy the battle between shorters and reddits as prices seesaw from one end to the other. Reallly good entertainment from AMC, better than any movies hands-down
- LynHuatAh:
  seow ?
- PEHPEH:
  Crazy
jayugi
2021-06-04
jayugi
FUD
rachelswl
2021-06-04
rachelswl
Keep hodling guyssss
am_newbie
2021-06-04
am_newbie
Why down 18%? All apes know, fake news old news and stupid analysis???? #HODL #forAMC
TraeY
2021-06-04
TraeY
Lets go! Hold hold hold!

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Additional shares dilute the value of the existing stock for existing shareholders.\nThen, AMC shares rallied off their lows and turned green after the company said it had alreadycompleted the offeringjust a few hours later, raising about $587.4 million.\nThe stock closed Thursday at $51.34.\nRetail investors — many active on Reddit's WallStreetBets forum — have been leading the AMC rally, and AMC executives have taken note. On Wednesday, the company announced anew portal to connect with individual investorsand offered free popcorn, exclusive screenings and other perks to those who hold its stock.\nJPMorgan noted that in the last week, retail order flow into AMC jumped to $583 million, 6.9 standard deviations above the average level of the last one year. According to their quantitative strategy, this kind of imbalance can lead to more outperformance by the stock in coming weeks.\nOn Wednesday, AMCsoared 95% in the regular trading sessionto close at an all-time high of $62.55. Its previous closing record of $35.86 was reached in 2015, according to FactSet data. AMC's stock spiked as it hit an intraday high of $72.62, well above its previous intraday record of $36.72.\nTrading was halted several times Wednesday and again on Thursday amid the volatility. The shares were up more than 100% at one point Wednesday. At the end of the day, more than 710 million shares exchanged hands — nearly double the number of AMC's shares outstanding. The company's 30-day average volume is just 143 million shares.\nAMC shares are up more than 3,000% so far this year, bringing its market capitalization to more than $32 billion. That makes it worth more than stocks like Delta Air Lines, State Street and Best Buy.\nIn a similar occurrence seen in January with the meme stocks like GameStop, defiant short-sellers have increased their bets against AMC shares over the last month, possibly fueling the move higher. About 18% of the AMC shares available for trading are still sold short through Wednesday, according to S3 Partners.\nOn Wednesday, short-sellers lost $2.8 billion as the stock surged, according to S3. That brings their year-to-date losses to more than $5 billion, according to S3.\nShort sellers like hedge funds borrow the stock from an investment bank and sell it in the hopes of buying it back at a lower price and returning the shares, pocketing the difference. However, when a stock surges higher, a so-called short squeeze can occur where investors are forced to buy back the stock to cut their losses.\nWednesday's wild trading activity comes even after an investment firm reportedly sold off its stake in the company. On Tuesday, AMC revealed itsold 8.5 million newly issued shares to Mudrick Capital, the latest in a series of capital raises for the stock. The hedge fund latersold all of its AMC stock for a profitthat same day, according to Bloomberg News.\nMost Wall Street analysts believe AMC shares will plummet eventually. The average 12-month target price of analysts is $5.11, according to FactSet.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":112304039,"gmtCreate":1622850103521,"gmtModify":1704192267979,"author":{"id":"3566103527845047","authorId":"3566103527845047","name":"JLau","avatar":"https://static.tigerbbs.com/720ce1bc56a89737f235f8f32ab762cf","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3566103527845047","authorIdStr":"3566103527845047"},"htmlText":"AA needs to PR some very good news like merger","listText":"AA needs to PR some very good news like merger","text":"AA needs to PR some very good news like merger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112304039","repostId":1103361405,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116688141,"gmtCreate":1622796129583,"gmtModify":1704191354101,"author":{"id":"3569274903458035","authorId":"3569274903458035","name":"HLPA","avatar":"https://static.tigerbbs.com/07e7b987a9127c5a47dbc3ae02db548b","vip":1,"hat":"https://static.tigerbbs.com/646756f1284a5a6480ed02cc4fa7d1d2","crmLevel":8,"crmLevelSwitch":1,"idStr":"3569274903458035","authorIdStr":"3569274903458035"},"htmlText":"Wait for $5. Meanwhile enjoy the battle between shorters and reddits as prices seesaw from one end to the other. Reallly good entertainment from AMC, better than any movies hands-down","listText":"Wait for $5. Meanwhile enjoy the battle between shorters and reddits as prices seesaw from one end to the other. Reallly good entertainment from AMC, better than any movies hands-down","text":"Wait for $5. Meanwhile enjoy the battle between shorters and reddits as prices seesaw from one end to the other. Reallly good entertainment from AMC, better than any movies hands-down","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/116688141","repostId":1103361405,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4855963,"gmtCreate":1623982479433,"gmtModify":1663229235234,"authorId":3574550675586314,"author":{"id":3574550675586314,"idStr":"3574550675586314","authorId":3574550675586314,"name":"LynHuatAh","avatar":"https://static.tigerbbs.com/901d081dbe36cc6d27f15400f52a7899","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116688141,"type":1,"supId":0,"prevId":0,"content":"seow ?","text":"seow ?","html":"seow ?"},{"id":4593851,"gmtCreate":1622902800305,"gmtModify":1663228018529,"authorId":3568799656541576,"author":{"id":3568799656541576,"idStr":"3568799656541576","authorId":3568799656541576,"name":"PEHPEH","avatar":"https://static.tigerbbs.com/af5e8cdcfb3b610e210a145cbda18d52","vip":1,"crmLevel":6,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116688141,"type":1,"supId":0,"prevId":0,"content":"Crazy ","text":"Crazy ","html":"Crazy "}],"langContent":"EN"},{"id":116633567,"gmtCreate":1622794873459,"gmtModify":1704191323708,"author":{"id":"3577356398523528","authorId":"3577356398523528","name":"jayugi","avatar":"https://static.tigerbbs.com/7ee0483386e03230370f1fa84dd6496f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3577356398523528","authorIdStr":"3577356398523528"},"htmlText":"FUD","listText":"FUD","text":"FUD","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116633567","repostId":1103361405,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116875358,"gmtCreate":1622793657674,"gmtModify":1704191288132,"author":{"id":"3583224908052547","authorId":"3583224908052547","name":"rachelswl","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3583224908052547","authorIdStr":"3583224908052547"},"htmlText":"Keep hodling guyssss","listText":"Keep hodling guyssss","text":"Keep hodling guyssss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116875358","repostId":1103361405,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116844876,"gmtCreate":1622792921495,"gmtModify":1704191274846,"author":{"id":"3581583457456048","authorId":"3581583457456048","name":"am_newbie","avatar":"https://static.tigerbbs.com/3c64d4645f1b2cfc8d02bf88edb7de59","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581583457456048","authorIdStr":"3581583457456048"},"htmlText":"Why down 18%? All apes know, fake news old news and stupid analysis???? #HODL #forAMC&nbsp;","listText":"Why down 18%? All apes know, fake news old news and stupid analysis???? #HODL #forAMC&nbsp;","text":"Why down 18%? All apes know, fake news old news and stupid analysis???? #HODL #forAMC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116844876","repostId":1103361405,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":116800202,"gmtCreate":1622784424206,"gmtModify":1704191153095,"author":{"id":"3584779659672573","authorId":"3584779659672573","name":"TraeY","avatar":"https://static.tigerbbs.com/5766dcd50cb6c2feaaab6c3cf0da5432","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3584779659672573","authorIdStr":"3584779659672573"},"htmlText":"Lets go! Hold hold hold!","listText":"Lets go! Hold hold hold!","text":"Lets go! Hold hold hold!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/116800202","repostId":1103361405,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":79,"commentSize":35,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1103361405"}