APE Shares Surge +180% in The Past 5 Trading Days
APE shares have surged more than 180% in the past 5 trading days.
Volume has been a massive component to helping push the equity on an uptrend.
The question is why APE?
AMC shares are down -16.63% in the past 5 trading days and trading at $4.06.
The unusual occurrence began after CEO Adam Aron announced shareholders would receive the chance to vote on two new proposals.
- The conversation of APE equity back to AMC common shares.
- And approval of a 1:10 reverse stock split.
Recently, the demand for AMC’s Preferred Equity (APE) has been much higher than that of AMC Entertainment shares.
Are short sellers beginning to close out their positions in APE?
Or is this simply volume from retail?
Let’s discuss it.
APE Short Interest Today
APE’s short interest today is at 8.60%, which is still relatively high, though it’s possible it may have come down.
Yahoo Finance listed APE as the #1 most shorted stock earlier in December.
Now we’re seeing the equity surge more than 180% in the past few days based on volume.
APE shares rose 75% before the Christmas holiday with volume reaching more than 177 million, up 158 million in trading volume from its average of 19.6 million.
On Tuesday, we’re seeing big trading volume come in with more than 55 million in the first hour and a half.
Will APE shares continue to rise?
There seems to be a discrepancy where we’re seeing AMC and APE’s charts mirror each other, but the complete opposite way.
While APE shares rise, AMC shares fall, especially when looking at the past 5-day trading charts.
It’s hard to say whether what we’re seeing with APE is shorts closing when we look at AMC’s chart directly next to APE.
It’s almost as if value is being extracted from AMC into APE.
And according to a Nasdaq report, only 0.18% of institutions are currently holding APE shares, so where is this volume coming from?
Have you purchased APE shares in the past 5 days?
Leave a comment down below.
What do you think of these two discrepancies between AMC and APE shares?
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Its rather obvious, if we are going to see APE stocks reach the level of AMC, then APEs need to go up to around 2.90, and visa versa AMC need to come down to that level. More money to be made in APE this next two weeks, at least 75% or more – buying opportunity at long last $$$$$$$$$