To The Moon

Jim Cramer said we should sell $AMC Entertainment(AMC)$   and I agree! AMC enjoyed spectacular meme fanfare lately, as short-squeeze by the meme community sent its stocks rallying to heights not seen in months and the meme frenzy has kept the stock buoyant of late, despite lack of improvements in fundamentals that would justify the rally. While the meme frenzy has propelled its stock price to great heights unjustified by its weak fundamentals, the largest US cinema chain has yet to fully recover from the COVID pandemic that saw its many theatres vacant. While the pandemic has eased and blockbuster titles are released, transition to the new normal has not brought huge crowds back to its theatre halls yet, and the company is still crumbling under its mountains of debts. Raising fresh capital via equity injections is its only lifeline. It remains to be seen how AMC is able to reinvent itself to stay relevant post pandemic amidst rising competitors no less from online streaming service providers the likes of $Netflix(NFLX)$ , $Walt Disney(DIS)$  

$Amazon.com(AMZN)$  

$Apple(AAPL)$   that have attracted hordes of supporters with the flexibility to watch movies and dramas anytime and anywhere at their convenience. Old habits die hard, so I believe that the online streaming services will be here to stay in the new normal and continue to give AMC a run for its money.