For over a year now Wall Street analysts predicted AMC’s share price would plummet greatly.
And although AMC’s share price has fallen substantially from its all-time high of $72 per share, analysts continue to get it wrong.
It seems no matter how much these analysts try to influence buyers and sellers; apes continue to buy and hold the stock.
Here are some AMC price targets from a variety of analysts going back to the start of 2021.
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AMC Entertainment Stock Beats Analyst Price Targets
AMC is currently trading around $14 per share.
It’s hovered right below or at the $14 level range in the past few months but seems to have broken some technical levels on Thursday.
Analysts have given AMC a price target relatively low to where it’s been trading all year.
Still, none are as ridiculous as Rich Greenfields $0.01 price prediction.
Retail investors on Twitter are wondering if he’s found a new career yet.
All jokes aside, here’s a list of AMC price targets given by other analysts.
- Citigroup – $5 price target
- B. Riley – $11.00 price target
- Wedbush – $7.50 price target
- Loop Capital – $1.00 price target
- MKM Partners – $1.00 price target
Other analysts give AMC a price target of $6, including CNN.
Three of these seven analysts gave their price targets in 2021, the other four are from this year.
Wall Street has raged against retail and the ‘meme stock’ community winning last year.
Hedge funds such as Melvin Capital, who have now shut down, experienced losses transitioning into the new year and were unable to recover.
Citadel lost billions during the ‘meme stock’ frenzy.
So, it’s no surprise the industry wants retail investors to pay.
Rather than stand with a recovering company, Wall Street would rather kick it as it’s healing.
Analysts Eat Crow
AMC Entertainment has proved Wall Street wrong on several occasions, and it will continue to do so primarily because the company continues to massively improve.
So called experts (a decade behind) fail to see the future that lies ahead of the company’s innovation relating to crypto and NFTs, too.
As the space and utility for these technologies grow, so will the company’s fundamentals.
AMC Entertainment has improved every quarter since 2021 and broke record this year having a very successful first quarter of 2022.
The company is estimated to report Q2 earnings on August 8th which has shareholders extremely excited.
AMC’s share price reached $34 in March before ultimately getting halted alongside GameStop’s surge.
The restriction was seen as blatant market manipulation from our regulators to keep AMC and GameStop in line with the rest of the market.
Stop suppressing the stock and see what happens.
I’ve said it before, and I’ll say it again.
AMC stock is going to surprise everyone again.
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Related: Is a New AMC Stock All-Time High Coming Soon?
At least B. Riley was correct.
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