Research firm raises price target on AMC stock, but still thinks it's dropping to $7.50

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Research firm raises price target on AMC stock, but still thinks it's dropping to $7.50

CNBC2021-06-04

Research firm Wedbush raised its 12-month price target on shares of AMC Entertainment on Friday...by $1. As AMC shares nearly doubled this week to $51 riding a wave of enthusiasm from Reddit posters, ...

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andrew123
·2021-06-05
Eventually price will reflect base on fundamental. So base on analyst analysis, price will drop when smart player start taking profit leaving fools holding.
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XiaTian
·2021-06-05
[Smile] Follow games
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- djsouljiakmcd:
  ??
  2021-06-05
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XiaTian
·2021-06-05
Buy some game [Miser]
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- XiaTian:
  [Smile]
  2021-06-05
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- JeremiahWoon:
  ???
  2021-06-05
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Suresh999
·2021-06-04
Good to see
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2
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V K
·2021-06-04
Oic nice
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3
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TLP
·2021-06-04
Go Ape go!
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- Kco:
  [Happy]
  2021-06-04
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- andrew123:
  no diff fm the 3 famous stk play on sgx n drop 80 to 90pc in 1 day. so be careful.
  2021-06-05
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That would still entail an 85% plunge.\n“AMC has made the best of its current ‘Meme Stock’ status by selling shares at a premium, and has raised significant capital doing so,” Wedbush analyst Alicia Reese said in a note.\n“Should AMC use its current cash balance to meaningfully reduce its debt and create earnings growth opportunities, we could envision a justified price target as high as $10,” Reese said.\nIn the past week alone, the movie theater chain sold more than 20 million shares in two separate offerings. On Wednesday, AMC announced that investment firm Mudrick Capital bought 8.5 million shares for more than $230 million. Then, the company reported Thursday that it sold another 11.55 million shares for more than $587 million.\nAMC CEO Adam Aron — dubbed “Silverback” by the retail traders rallying behind the meme stock — took to YouTube on Thursday night to make the case for issuing 25 million more shares.\nWedbush believes this capital infusion could allow AMC to pay off its debt faster, ramp up its business abroad and buy newly available domestic movie theaters that couldn’t survive the pandemic.\nAlthough additional shares typically dilute the value of the existing stock for existing shareholders, Wedbush thinks “AMC’s increased cash balance outweighs its higher share count.”\nThe new price target comes after the meme stock closed at $51.34 on Thursday after a rollercoaster trading session Thursday. 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The average 12-month price target for AMC shares is $5.25, according to FactSet data.\nWedbush maintains its “hold” rating for the stock.\n“We expect significant volatility in shares of AMC to continue, driven by trading momentum unrelated to AMC’s fundamentals,” Reese said. “As such, we do not recommend buying shares of AMC here.”","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":112941758,"gmtCreate":1622848750374,"gmtModify":1704192236953,"author":{"id":"3576260758860416","authorId":"3576260758860416","name":"andrew123","avatar":"https://community-static.tradeup.com/news/f2a1eaba26272212d42018e60e78b422","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":5,"crmLevelSwitch":0,"authorIdStr":"3576260758860416","idStr":"3576260758860416"},"htmlText":"Eventually price will reflect base on fundamental. So base on analyst analysis, price will drop when smart player start taking profit leaving fools holding.&nbsp;","listText":"Eventually price will reflect base on fundamental. So base on analyst analysis, price will drop when smart player start taking profit leaving fools holding.&nbsp;","text":"Eventually price will reflect base on fundamental. So base on analyst analysis, price will drop when smart player start taking profit leaving fools holding.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/112941758","repostId":1133840197,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":112996073,"gmtCreate":1622840711692,"gmtModify":1704192142309,"author":{"id":"3575368380492738","authorId":"3575368380492738","name":"XiaTian","avatar":"https://community-static.tradeup.com/news/71777f1a5ae276e73064272b5ae7df92","vip":1,"crmLevel":3,"crmLevelSwitch":1,"authorIdStr":"3575368380492738","idStr":"3575368380492738"},"htmlText":"[Smile]&nbsp; Follow games","listText":"[Smile]&nbsp; Follow games","text":"[Smile] Follow 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some game [Miser]&nbsp;","listText":"Buy some game [Miser]&nbsp;","text":"Buy some game [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/112998593","repostId":1133840197,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4583833,"gmtCreate":1622840660693,"gmtModify":1663227975642,"authorId":3575368380492738,"author":{"id":3575368380492738,"idStr":"3575368380492738","authorId":3575368380492738,"name":"XiaTian","avatar":"https://community-static.tradeup.com/news/71777f1a5ae276e73064272b5ae7df92","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-2","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Master Trader","description":"Total number of securities or futures transactions reached 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go!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/116737487","repostId":1133840197,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4581996,"gmtCreate":1622819644878,"gmtModify":1663227964447,"authorId":3582125189852786,"author":{"id":3582125189852786,"idStr":"3582125189852786","authorId":3582125189852786,"name":"Kco","avatar":"https://static.tigerbbs.com/7e084f967b4eadfe95c21811f7dac5f3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116737487,"type":1,"supId":0,"prevId":0,"content":"[Happy]","text":"[Happy]","html":"[Happy]"},{"id":4584674,"gmtCreate":1622848460114,"gmtModify":1635336762497,"authorId":3576260758860416,"author":{"id":3576260758860416,"idStr":"3576260758860416","authorId":3576260758860416,"name":"andrew123","avatar":"https://community-static.tradeup.com/news/f2a1eaba26272212d42018e60e78b422","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":116737487,"type":1,"supId":0,"prevId":0,"content":"no diff fm the 3 famous stk play on sgx n drop 80 to 90pc in 1 day. so be careful.","text":"no diff fm the 3 famous stk play on sgx n drop 80 to 90pc in 1 day. so be careful.","html":"no diff fm the 3 famous stk play on sgx n drop 80 to 90pc in 1 day. so be careful."}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":22,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}