AMC and APE shares fell on Monday despite big buy volume.
The theatre chain company was halted multiple times only minutes after the market opened.
Investors are questioning the SEC on Twitter why shares of HKD stock were allowed to run from $13 per share to more than $2.5K per share with very limited to no halts at all.
Although AMC’s new APE dividend split the value of AMC stock, Monday’s demand should have sent both stocks much higher.
Mainstream media on the other hand are blaming AMC’s fall in share price for Cineworld’s (Regal) bankruptcy claim.
Here’s what investors should know.
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There is big demand for AMC stock so why are the stocks down?
AMC stock had reached 90 million in trading volume by 12pm standard eastern time and APE more than 20 million.
AMC’s volume had nearly doubled from its average volume of 46.9 million in only three hours since market open.
Combined, AMC and APE already had more than 110 million in volume by noon.
The movie theatre chain’s shares had fallen though leaving retail investors questioning the integrity of the market, yet again.
We saw AMC’s short interest increase this morning from 17% to almost 20% meaning short sellers have begun to open new short positions against the stock.
By leveraging Cineworld’s (Regal) bankruptcy claim, Wall Street Journal and Barrons were able to create a ‘short and distort’ campaign to target AMC Entertainment.
Both these companies are influenced by Citadel’s Ken Griffin, who owns a stake in NewsCorp – the parent company of Wall Street Journal and Barrons.
Citadel has been betting against AMC stock for years now in hopes to cash in from what Wall Street perceived would be the company’s downfall during the pandemic lockdowns.
Others speculate the company could be profiting from the split.
What are your thoughts on AMC/APE?
AMC and APE had a combined volume of 269.67 million on Monday.
I’m curious to learn what your thoughts are on AMC and APE.
Are you buying and holding or looking for other profitable opportunities?
Leave a comment down below.