AMC Entertainment stock rose +18.86% on Friday, a day after the movie theatre chain company beat Q2 earnings.
The stock is now up 54.78% on the 5-day trading week.
Shareholders are bracing for a long-awaited upwards break after many months of downtrend.
Is AMC Entertainment stock about to take off again?
Let’s discuss it below.
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AMC jumps after bullish Q2 earnings
AMC Entertainment announced it had its best Q2 in 3 years, up 61% from its previous two years according to CEO Adam Aron.
The company was able to seat more than 59 million guests worldwide in Q2 alone, due to massive titles such as Doctor Strange: Multiverse of Madness and Top Gun: Maverick.
But it’s the new AMC stock dividend that has everyone raving about Q2 earnings.
Shareholders are going to be receiving one $APE share for every $AMC share they hold.
You’ll have to be an AMC shareholder by the 19th of August to get yours straight from your broker the following trading week.
This new stock will not dilute AMC Entertainment stock as $APE is its own security, separate from AMC stock.
Shareholders will be able to buy, sell, and trade the stock like any other security.
In an effort to tackle synthetic shares, here’s what CEO Adam Aron had to say:
The CEO seems to be taking this ‘pounce’ much more fundamentally than retail would have desired.
But is that even a bad thing?
Related: AMC Q2 Earnings Highlights (2022)
Wall Street loses grip
Analysts on Wall Street have been prophesizing the fall of AMC theatres for almost two years now, using mainstream media to mislead investors from buying the stock.
Had you listened to The Fool, Yahoo Finance, and other FUD platforms, you would have missed this opportunity for the third time.
But do no fret, as a big technical breakout could send AMC retesting the same levels it broke last year, sending AMC’s share price to another all-time high.
Short sellers will have to make a decision to either continue betting against this massive wave, or switch courses and ride with it.
Volume has begun to pick up for AMC, reaching 125.7 million on Friday alone.
Just five days ago the stock was trading at $14.33 per share ending the trading week at $22.18 and $22.45 after hours.
There’s no doubt the stock has begun a bullish trend.
The question is, will retail investors be able to continue to build the momentum leading into next week to break AMC’s next technical level?
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Frank if my AMC shares are held in my brokerage accounts In both my qualified IRA account at Wells Fargo in my joint brokerage account at CHARLES SCHWAB, how do I know that they did not lend my shares out? It’s a Brokerage companies listed above required to deliver the APE shares? My joint account may have margin attached to it even though I never used it at CHARLES SCHWAB does that make a difference?
So what’s this “ape” stock gonna cost? I own stock on Robinhood will I be able to purchase these stocks from there because “technically” we don’t own the stock on Robinhood? How’s this ape stock gonna work?
My understanding is your AMC shares purchased by your stockbroker are still your shares and you will receive your $APE shares through your broker – I called fidelity to inquire. I also called the
and was told that my shares would be delivered to me by my broker. I will check again Monday.
Vice President, Investor Relations
AMC Entertainment Holdings, Inc.
11500 Ash Street
Leawood, KS 66211
There should be nothing to do but receive. You can confirm this with your broker. However Fidelity posted information 16 hrs ago on this very question regarding $APE shares to clients who purchased/own AMC shares through Fidelity brokerage.
fidelityinvestments – Reddit
Mar 9, 2021 — r/fidelityinvestments: As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about
Wall Street is all about misdirection , so this comes as no surprise.
Let’s start a discussion! Leave your thoughts below.