AMC Stock Gets Comfortable at $15 Levels: Will It Go Higher?

Will AMC Stock go up
Market News: AMC establishes new level of support – Will AMC stock keep going up?

AMC stock has found a new level of support at the $15 level.

We can see this by looking at the 5-day trading chart.

The stock is also now up more than 19% on the monthly chart.

For months now, the ‘ape’ community has been saying that AMC is not done running due how high the short interest is.

So, will AMC’s share price go higher?

Well, there’s a very high probability retail investors will squeeze short sellers this year like they did last year.

Let’s discuss it.

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AMC closes trading week up 6.00%

AMC Stock at $15 level - will AMC stock go up?
AMC stock at $15 level – Will AMC stock go up? AMC stock news and updates

AMC Entertainment stock closed the trading week up 6.00% and nearly 2% on Friday.

The company’s share price is now way out the money compared to analyst’s price targets.

CEO Adam Aron’s ‘pounce’ message has left Wall Street rather concerned as short sellers begin to take a step back.

We’re seeing a massive return in borrowed shares typically used to short AMC stock.

AMC’s shares on loan have dropped from 195 million to 130 million in only two weeks.

Although AMC’s short interest is still relatively high, the reported SI dropped from 23% to 18.04%.

While AMC’s current share price does not indicate signs of any major short covering, the drop in short interest does signify hedge funds returning borrowed share to their lenders.

Are short sellers getting ready to close their positions in AMC soon?

Well, we know that AMC’s fundamentals have impressively recovered and while it was a screaming short during the pandemic, that just simply isn’t the case anymore.

Movie-goers are filling up auditoriums and titles are breaking record one after another.

AMC announced during their Q1 earnings call that their market share had also increased from 22% to 26%.

This means the largest movie theatre chain in the world is no longer shrinking, but rather growing.

Is AMC stock a buy?

AMC stock news and updates - is AMC stock a buy?
AMC stock news and updates | AMC share price exceeds industry expectations

Analysts are hesitant to admit defeat, but with AMC’s recovery, growth, innovation, and increasing retail shareholder base, the stock is certainly a buy.

The market has proven time and time again that the movie theatre industry is not dead.

While it may have gone dormant during the coronavirus lockdown, online streaming simply cannot replace the theatrical experience one gets from the premier of a new movie release.

Whether you buy AMC stock for a short squeeze trade or long-term speculative investment, there’s profit to be made.

Especially if at one point AMC decides to introduce a cash dividend for its shareholders.

Related: How to Invest in The Stock Market Step-by-Step for Beginners

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  1. The Programming assignment help

    Please keep us updated abut the shares

  2. Remus776

    Comfortable @ $15? Are you kidding me? I paid $52/share for my 450 shares so I am not at all comfortable. My stomach turns every time I look at the stock price.

    • Larry

      Try averaging down. I never buy all in at one time.

  3. Robin Raitanen

    Your the AMC MAN FRANK.!!! Yes I agree the big sqeeze is coming soon.its the price per share.I am not sure about.please keep us informed.

  4. Larry Smith

    Yes it is comfortable buying today in the 14 and 15 buck range. AMC looking great! Long term buy and hold.

  5. Frank Nez

    Let’s start a discussion! Leave your thoughts below.

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