Investors want to know; can AMC stock reach $100 per share?
Last year AMC’s share price skyrocketed to an all-time high of $72 per share.
Retail investors were able to trigger this price surge when a few short sellers decided to close their short positions.
AMC’s short interest percentage during that time dropped from 23% to 20%, and then to 14%.
AMC Entertainment was barely recovering during this time.
Today, the company is stronger than ever before.
Here’s what we know.
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Comparing AMC this year to last year
AMC is no longer the same company it was last year.
So much has changed ever since the retail community armed the century old movie theatre chain with more than a billion dollars in liquidity.
AMC repaid $45 million of deferred rent reducing their balance to approximately $272 million in Q1 of 2022.
The company plans to reduce the deferred rent by another $125 million by the end of this year.
CFO Sean Goodman announced that AMC seated 39 million guests in Q1 alone this year; it had seated 7 million guests in Q1 of 2021.
A whopping 32 million difference.
AMC Entertainment earned $785.7 million in revenue this first quarter, more than five times the revenue in Q1 of 2021 ($148.3m).
The company also ended Q1 with $1.4 billion in liquidity.
- Financial reports suggest AMC is on a road to financial recovery from the impact of Covid-19.
- AMC’s Perfectly Popcorn business is on schedule to enter the retail game later this year.
- The company is currently doing product testing, research, and looking at new concepts.
- AMC says the launch of an AMC credit card is going to be a lucrative business opportunity for the company.
- 8 different NFT programs have been launched or are in the works of being launched so far, further fueling movie ticket sales.
AMC Entertainment is a stronger company fundamentally today.
Its innovation with crypto and NFTs are going to propel not just the business forward, but its share price in the long-term future too.
The Journey to $100 per share
AMC stock almost reached $100 per share when it surged to $72 last year during the month of June.
The stock price was only at $14 when it began to uptrend.
AMC traded at $14.66 on Friday.
Can AMC stock reach $100 per share?
Of course it can.
But the process will require retail investors to be patient.
Whether fundamentals play a role in it or not, AMC only needs a few short sellers to close their positions in order to make this share price level come to fruition.
You can keep an eye out on the reported short interest here (updated daily).
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