Category: AMC Stock (Page 1 of 23)

Analyst Predicts AMC Revenue Will Soar This Summer

Market News Daily - Analyst Predicts AMC Revenue Will Soar This Summer.
Market News Daily – Analyst Predicts AMC Revenue Will Soar This Summer.

Paul Dergarabedian, Comscore senior media analyst predicts AMC Entertainment (NYSE:AMC) revenue will soar this summer as the industry begins to take off.

Disney’s “Guardians of the Galaxy Vol. 3” exceeded box office expectations this past weekend, securing $118.4 million domestically to bring its global total to $289.3 million.

IMAX announced it grossed $25 million from the debut — the company’s biggest global opening thus far in 2023.

Those results, on top of Universal’s “The Super Mario Bros. Movie,” which surpassed $500 million domestically, adds to early momentum heading into the summer box office season.

“I think it’s going to rival the pre-pandemic levels for summer box office,” Paul Dergarabedian, Comscore senior media analyst, told Yahoo Finance.

Dergarabedian says that upcoming films like Pixar’s “Elemental,” Disney’s “The Little Mermaid,” Universal’s “Oppenheimer,” and Warner Bros. “Barbie” as just some of the many films that will drive revenue for AMC Entertainment.

“This is just a bevy of riches on the way at the multiplex,” he said.

According to the latest data from Comscore, total domestic box office grosses have hit $2.85 billion so far this year, 23.3% below 2019’s $3.74 billion over that same time period.

The Movie Theatre Industry is Growing

Market News Daily – Analyst Predicts AMC Revenue Will Soar This Summer.

Dergarabedian argues that the industry is heading in the right direction with 30 more wide-release films slated for release this year compared to 2022: “More movies more often is my [mission] statement for the industry for 2023.”

Currently, the box office is on track to finish off 2023 above $9 billion.

“With moviegoers continuing to trend toward premium screens and concessions, it stands to reason that as volume normalizes, theater-level revenue could exceed pre-pandemic levels,” Wedbush analyst Alicia Reese wrote in a note following the report.

But Paul Dergarabedian isn’t the only one predicting strong growth for the movie theatre industry.

Bloomberg says experts are now projecting that ticket sales will be off about 15% from before the pandemic (with 15% less product) and just about every studio is ramping up output.

amazon and apple invest billions in movie theatre industry

Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) are also now contributing billions of dollars to the movie theatre industry.

“After years of negotiations and failed experiments, theater chains and movie studios have reached something of a truce.”

CNBC says this is a positive sign for the movie theatre industry, referring to Amazon’s new business venture.

“While a $1 billion annual investment for film development is on the lower end of what major Hollywood studios spend each year, it’s a positive sign for the movie theater business, which has struggled in the wake of the pandemic.”

Apple’s investment is part of the tech company’s efforts to raise its profile in Hollywood and lure subscribers to its streaming service, Apple TV+, Bloomberg reported, citing people familiar with the matter.

AMC CEO Addresses Movie Industry Critics

Market News Daily - Analyst Predicts AMC Revenue Will Soar This Summer.
Market News Daily – Analyst Predicts AMC Revenue Will Soar This Summer.

AMC CEO Adam Aron says “so-called ‘experts’ thinking streaming dooms movie theatres are so fundamentally incorrect.”

“So WRONG. Our problem is major studios released a lot fewer movies in 2021 & 2022 than in pre-pandemic years,” said the CEO.

Wall Street continues to push the short thesis on AMC, failing to acknowledge the fundamental growth of the company over the past two years.

AMC Entertainment beat Wall Street expectations for its first quarter results last Friday.

“Our results for the first quarter of 2023 represent AMC’s strongest first quarter in four full years.

We kicked off 2023 by continuing on our positive glide path to recovery, with more than a 21% growth in total revenues and a $69 million improvement in Adjusted EBITDA compared to the previous year.

This progress is a testament to the ongoing recovery in the industrywide box office, as well as AMC’s enduring commitment to the excellence and innovation as our guests enjoy a superb movie-going experience at our theatres,” said AMC CEO Adam Aron.

“All told, the first quarter North American box office easily surpassed 2022 by some 29%, totaling more than $1.7 billion.

The recovery in the European box office was even stronger in getting to pre-pandemic norms than that in the U.S.

As I have said for years, when our studio partners showcase their magical storytelling, there is robust demand to be realized at AMC theatres both in the U.S. and abroad.

We believe the first quarter of 2023 is just the tip of the iceberg for what’s to come in the remainder of the year.”

AMC stock is up nearly 41% this year-to-date, though heavy dark pool volume continues to suppress actual retail demand from reflecting on the lit exchange.

Market News Published Daily

Market News Today - Analyst Predicts AMC Revenue Will Soar This Summer.
Market News Today – Analyst Predicts AMC Revenue Will Soar This Summer.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


AMC Plans to Introduce New Branded Candy to Theatres

Market News Daily - AMC Plans to Introduce New Branded Candy to Theatres.
Market News Daily – AMC Plans to Introduce New Branded Candy to Theatres.

AMC Entertainment (NYSE:AMC) plans to introduce new branded candy to movie theatres.

CEO Adam Aron said the movie theater chain will start making its own candy line that will be cheaper for patrons, and for the company, given price hike by sweets manufacturers post-Covid.

“We noticed, as a result of the pandemic and supply chain shortages, that candy manufacturers had increased their prices to us by a huge amount (some by over 30%).

That got us thinking very hard about our candy, and we realized that we could manufacture a private label brand of candy to very high quality standards, price it less expensively than our current candy is priced, and have a higher profit margin,” Adam Aron said.

AMC Entertainment recently began selling AMC Perfectly Popcorn brand at over 2,000 Walmart stores.

The company also recently launched an AMC-branded Visa card, armoring up revenue streams for 2023.

Adam Aron hopes to introduce AMC candy in late 2023 or early 2024, stating the chain will still carry branded candy “for people who want it.”

AMC CEO Comments on Writers Guild Strike

The Writers Guild of America, which represents 11,500 screenwriters, went on strike on Tuesday after contract negotiations with studios, streaming services and networks failed.

“We are very sympathetic to the real problem that exists for members of the writer’s guild.

Streaming has changed the landscape of television and shaped the economics of what writers earn.

We are hopeful that the Hollywood producers and the writer’s guild can work in good faith to craft a solution that is good for all parties.”

“As far as its impact on AMC and the movie industry, if this is a short strike — I don’t mean days, I mean months – its impact will mostly be felt on television programming, because the movies for ‘23 and ‘24 have pretty much been written, in many cases they’ve already been filmed, and I think only a very prolonged writers’ strike would have a material impact,” said Adam Aron.

According to Deadline, a handful of tentpole productions are shooting overseas where there isn’t a heavy Teamsters presence, and the possibility of a shoot closing is less likely.

Furthermore, studios have either locked scripts for productions, or have gotten sign-off on not having a scribe on set.

The W.G.A. has vowed to stay on strike for as long as it takes.

Related: AMC Sues Nearly 20 Companies in New Lawsuit

Market News Published Daily

Market News Today - AMC Plans to Introduce New Branded Candy to Theatres.
Market News Today – AMC Plans to Introduce New Branded Candy to Theatres.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


AMC Sues Nearly 20 Companies in New Lawsuit

Market News Daily - AMC Sues Nearly 20 Companies in New Lawsuit.
Market News Daily – AMC Sues Nearly 20 Companies in New Lawsuit.

AMC Entertainment (NYSE:AMC) is suing nearly 20 insurance companies in a new lawsuit.

The company is claiming they’re breaching its liability policies by refusing to cover the cost of a major investor lawsuit the theater operator plans to settle for more than $100 million, per Bloomberg.

The new lawsuit followed hours after lawyers leading the shareholder case asked for $20 million in legal fees as part of the proposed settlement.

“These claims fall squarely within defendants’ coverage obligations,” meaning they’re “obligated to, among other things, pay 100% of the defense and settlement costs,” AMC said in its 35-page complaint against 17 liability insurers.

AMC’s new lawsuit stems from the dispute in Delaware’s Chancery Court with a pension fund and two other shareholders who challenged the company’s plan to convert the APE preferred units into common stock.

“The settlement—worth more than $100 million at current trading prices, according to recent court filings—would resolve claims that the APE conversion reflects a complex corporate engineering scheme aimed at unfairly sidelining ordinary shareholders.

The deal would give each owner of common stock an additional share for every 7.5 they hold,” said Bloomberg.

Vice Chancellor Morgan T. Zurn, who has received a tidal wave of stockholder letters opposing the agreement, recently scheduled a June 29 hearing to evaluate its fairness.

She has said she’s committed to issuing a full written opinion approving or rejecting the settlement, a ruling that would likely come by the end of September.

Latest AMC Lawsuit News and Updates

AMC Entertainment lawsuit news and updates.
AMC Entertainment lawsuit news and updates.

Recently, AMC CEO Adam Aron said he was seeking to file a new lawsuit against Robinhood after the trading platform had falsely reported AMC Entertainment had filed for bankruptcy.

“This company has filed for bankruptcy. This typically happens when companies are close to running out of money or have trouble repaying their outstanding debts,” Robinhood reported under ticker symbol AMC on its platform.

“What the DUCK !!!!! I am getting multiple reports that Robinhood briefly posted today that AMC filed for bankruptcy.

How can companies like Robinhood do this?

So ludicrous, so wrong, so irresponsible.

On Friday, we report Q1 earnings, and will announce our sizable cash position,” said AMC CEO Adam Aron in a statement on social media.

He later wrote:

“I am so Ducking angry about this. They are either incompetent or evil, and either is absolutely inexcusable. Obviously, there is no truth to their postings. Outrageous behavior. I have already asked our lawyers if we can sue the Dastards. #IncompetentEvil”

Robinhood responded on the AMC bankruptcy notice after investors and the CEO raised concerns about the lucrative reporting.

The following statement was released by the broker:

“On 5/1/23 at 1:45 pm ET, Robinhood experienced a technical issue leading to an incorrect banner being applied to AMC. The banner was removed at 1:48 pm ET. We apologize for this error.”

For more AMC news and updates, join the newsletter below.

Market News Published Daily

Market News Today - AMC Sues Nearly 20 Companies in New Lawsuit.
Market News Today – AMC Sues Nearly 20 Companies in New Lawsuit.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


AMC Entertainment Beats Wall Street Expectations

Market News Daily - AMC Entertainment Beats Wall Street Expectations.
Market News Daily – AMC Entertainment Beats Wall Street Expectations.

AMC Entertainment (NYSE:AMC) beat Wall Street expectations for its first quarter results on Friday.

“Our results for the first quarter of 2023 represent AMC’s strongest first quarter in four full years.

We kicked off 2023 by continuing on our positive glide path to recovery, with more than a 21% growth in total revenues and a $69 million improvement in Adjusted EBITDA compared to the previous year.

The first quarter of 2023 and fourth quarter of 2022 mark the first two consecutive quarters of EBITDA since March of 2020.

This progress is a testament to the ongoing recovery in the industrywide box office, as well as AMC’s enduring commitment to the excellence and innovation as our guests enjoy a superb movie-going experience at our theatres,” said AMC CEO Adam Aron.

“AMC Theatres across the globe welcomed nearly 48 million guests in the first quarter thanks to the continued strength of James Cameron’s AVATAR: The Way of Water, and the knockout power of first quarter releases like Marvel’s Ant-Man and The Wasp: Quantomania, Creed III, Scream VI, Shazam! Fury of The Gods and John Wick Chapter 4.

All told, the first quarter North American box office easily surpassed 2022 by some 29%, totaling more than $1.7 billion.

The recovery in the European box office was even stronger in getting to pre-pandemic norms than that in the U.S.

As I have said for years, when our studio partners showcase their magical storytelling, there is robust demand to be realized at AMC theatres both in the U.S. and abroad.

We believe the first quarter of 2023 is just the tip of the iceberg for what’s to come in the remainder of the year.”

AMC Entertainment Q1 Results

Market News Today - AMC Entertainment Beats Wall Street Expectations.
Market News Today – AMC Entertainment Beats Wall Street Expectations.

Revenue for the quarter was $954.4 million, compared with analysts’ expectation of $948.5 million, according to Refinitiv IBES data.

Summary First Quarter 2023 Compared to First Quarter 2022:

  • Total revenues grew 21.5% to $954.4 million.
  • Net loss improved by $101.9 million to $235.5 million.
  • Adjusted net loss was $179.7 million compared to an adjusted net loss of $266.3 million.
  • Diluted loss per share was $0.17 compared to a diluted loss per share of $0.33.
  • Adjusted diluted loss per share was $0.13 compared to an adjusted diluted loss per share of $0.26.
  • Adjusted EBITDA improved by $68.8 million to $7.1 million.
  • Net cash used in operating activities for the quarter was $189.9 million.
  • Non-GAAP Operating Cash Burn1
    for the quarter was $139.4 million compared to $223.9 million.
  • Available liquidity at March 31, 2023 was $703.7 million, including $208.1 million of undrawn capacity under the
    Company’s revolving credit facility.
AMC Q1 2023 Earnings
AMC Q1 2023 Earnings – AMC earnings report 2023.

“During the first quarter of 2023, we continued to strengthen our balance sheet by raising more than $155 million of cash through the sale of APE units, and by reducing the principal balance of our debt by more than $200 million in repurchasing debt or exchanging APE units for debt.

Our optimism about a clearly increasing industrywide box office notwithstanding, we have been very transparent that it will take a few more years for the industry box office to return near to pre-pandemic levels, and our ability to raise additional capital during this extended recovery period will be a crucial component of our success.

We will continue our fight to preserve our agility and to remain on our recovery trajectory, as we work hard to position AMC for long-term success.”

Related: AMC CEO Seeks to File New Lawsuit Against Robinhood

Market News Published Daily

Market News Today - AMC Entertainment Beats Wall Street Expectations.
Market News Today – AMC Entertainment Beats Wall Street Expectations.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


Analyst Predicts HYMC Stock to Soar 3,200% This Year

Market News Daily - Analyst Predicts HYMC Stock to Soar 3,200% This Year.
Market News Daily – Analyst Predicts HYMC Stock to Soar 3,200% This Year.

An analyst is predicting Hycroft Mining (NASDAQ:HYMC) stock to soar more than 3,233% within a 12-month period.

HYMC stock is currently down more than -28% this year-to-date and is trading at $0.39 per share.

One analyst is offering a 12-month price forecasts for Hycroft Mining Holding Corporation with a median target of $13.00, a high estimate of $13.00 and a low estimate of $13.00.

The median estimate represents a +3,275.75% increase from Tuesday’s price of $0.39.

The current consensus among 1 polled investment analysts is to hold shares in Hycroft Mining Holding Corporation.

This rating has held steady since November, when it was downgraded from a buy rating.

Shareholders may feel convicted in their current investment with the latest HYMC price forecast.

If you’re new to the investment or are thinking buying, tread lightly.

Analysts were giving Mullen Automotive stock a 7,000% prediction for the year, but the stock has yet to see any gains since its forecast.

Latest HYMC Stock Updates

The silver and gold mine company reports that 77.2% of the company is now owned by retail investors, a result of AMC Entertainment taking a 22% stake in the company last year.

But retail investors have bought up shares in the past year now becoming the dominant stakeholder in Hycroft.

AMC Entertainment now has 11.7% ownership, while Hyrcoft reports Eric Sprott, billionaire and precious metals investor holds a 9.2% stake.

Mudrick Capital, known for their contrarian investing, holds the least ownership at 1.9%.

In December of 2022, news surfaced that the company had discovered more gold, and more silver than anticipated.

AMC CEO Adam Aron made the exciting announcement on Twitter stating, “so far ALL 20 of the newly drilled bores contained gold/silver, and 14 of the 20 showed higher grades than previously known to Hycroft.

Diane R. Garrett, President & CEO said the second phase of the drill program will continue through the first half of 2023.

“Once permits are received, we will be stepping out beyond the known resource area and drilling prospective high-grade targets identified within our vast land position.”

For more HYMC stock news and updates, join the newsletter below.

Market News Published Daily

Market News Today - Analyst Predicts HYMC Stock to Soar 3,200% This Year.
Market News Today – Analyst Predicts HYMC Stock to Soar 3,200% This Year.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


AMC CEO Seeks to File New Lawsuit Against Robinhood

Market News Daily - AMC CEO Seeks to File New Lawsuit Against Robinhood.
Market News Daily – AMC CEO Seeks to File New Lawsuit Against Robinhood.

AMC Entertainment (NYSE:AMC) CEO Adam Aron is seeking to file a new lawsuit against trading platform Robinhood (NASDAQ:HOOD).

Robinhood on Monday reported AMC Entertainment had filed for bankruptcy stating the following:

“This company has filed for bankruptcy. This typically happens when companies are close to running out of money or have trouble repaying their outstanding debts.”

“What the DUCK !!!!! I am getting multiple reports that Robinhood briefly posted today that AMC filed for bankruptcy.

How can companies like Robinhood do this?

So ludicrous, so wrong, so irresponsible.

On Friday, we report Q1 earnings, and will announce our sizable cash position,” said AMC CEO Adam Aron in a statement on social media.

He later wrote:

“I am so Ducking angry about this. They are either incompetent or evil, and either is absolutely inexcusable. Obviously, there is no truth to their postings. Outrageous behavior. I have already asked our lawyers if we can sue the Dastards. #IncompetentEvil”

In March, Robinhood and other brokerages reported AMC Entertainment at a $417 billion market cap and even $421 billion market cap, so this is not the first time users have reported misinformation from the platform.

Shareholders have urged the CEO for years now to look into the manipulation of AMC Entertainment stock and into ‘short and distort’ campaigns used to defame the company during its toughest years.

Robinhood Responds to AMC Bankruptcy Notice

Market News Daily - AMC CEO Seeks to File New Lawsuit Against Robinhood.
Market News Daily – AMC CEO Seeks to File New Lawsuit Against Robinhood.

Robinhood responded on the AMC bankruptcy notice after investors and the CEO raised concerns about the lucrative reporting on social media.

The following statement was released by the broker:

“On 5/1/23 at 1:45 pm ET, Robinhood experienced a technical issue leading to an incorrect banner being applied to AMC. The banner was removed at 1:48 pm ET. We apologize for this error.”

But investors now want to know the company’s process that led them to mistakenly publishing this error.

Others allege the notice was a malicious intent on the movie theatre company, just days before Q1 earnings.

For years now, Wall Street and affiliates have used media tricks to their advantage in hopes of creating panic and steering investors away from investing in the movie theater company.

Will AMC CEO Adam Aron really file a lawsuit against Robinhood?

In the past, the CEO stated the company had been in contact with the NYSE and FINRA to “look closely at the trading of the stock”, but investors have yet to be updated on any new information.

Robinhood Lawsuit News

Robinhood is currently being sued in a new class action lawsuit by Klafter Lesser LLP, Pessah Law Group, and PC and Chelin Law Firm in California.

The firms are seeking to represent investors who held call options on the Robinhood trading platform as of the close on January 27, 2021 to purchase any of the following stocks:

American Airlines Group Inc. (NASDAQ:AAL), AMC Entertainment (NYSE:AMC), BlackBerry Limited (NYSE:BB), Bed Bath & Beyond Inc. (NASDAQ:BBBY), GameStop Corp. (NYSE:GME), or Nokia Corporation (NYSE:NOK).

The latest Robinhood class action lawsuit alleges that on January 28, 2021, Robinhood prohibited purchases of the stocks underlying the affected options on its platform and also prohibited purchases of the exercise of the affected options, and only allowed the closing out of such positions.

The lawsuit further alleges that during the period January 29, 2021 through February 4, 2021, Robinhood imposed significant limits on any purchases and continued to prevent the exercise of the affected options on its trading platform.

Consequently, the value of the affected options dropped dramatically and remained suppressed throughout the month, causing investors to suffer big losses, says the press release.

Related: AMC Lawsuit to Be Resolved in Late June

Market News Published Daily

Market News Today - AMC CEO Seeks to File New Lawsuit Against Robinhood.
Market News Today – AMC CEO Seeks to File New Lawsuit Against Robinhood.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


Robinhood Reports AMC Entertainment Has Filed for Bankruptcy

Market News Daily - Robinhood Reports AMC Entertainment Has Filed for Bankruptcy.
Market News Daily – Robinhood Reports AMC Entertainment Has Filed for Bankruptcy.

Robinhood (NASDAQ:HOOD) is falsely reporting AMC Entertainment (NYSE:AMC) has filed for bankruptcy on its trading platform.

AMC Shareholders have shared various screenshots of what many believe to be a ‘short and distort’ campaign against the movie theatre company.

AMC Entertainment has not filed for bankruptcy nor is it in any position to file for bankruptcy.

“What the DUCK !!!!! I am getting multiple reports that Robinhood briefly posted today that AMC filed for bankruptcy.

How can companies like Robinhood do this?

So ludicrous, so wrong, so irresponsible.

On Friday, we report Q1 earnings, and will announce our sizable cash position,” said AMC CEO Adam Aron in a statement on social media.

Robinhood users are reporting the platform has issued a notice on ticker symbol AMC stating the following:

“This company has filed for bankruptcy. This typically happens when companies are close to running out of money or have trouble repaying their outstanding debts.”

But this isn’t the first time Robinhood or other platforms have reported false information about AMC Entertainment.

Robinhood Reports AMC at $417 Billion Market Cap

Robinhood and other brokerages have reported AMC Entertainment at a $417 billion market cap and even $421 billion market cap.

This puts AMC Entertainment up with Facebook in terms of market cap, per the reportings.

Many shareholders have been sharing screenshots of what CEO Adam Aron believes to be discrepancies from these brokers.

The CEO said in March data sources were under review for accuracy after several sources, including MarketWatch, were reporting the company’s equity APE (NYSE:APE) of also having a 93.79 billion market cap.

Both AMC and APE are displaying what shareholders believe to be the true value of the securities.

Few skeptics have written off the data as simply ‘glitches’ from brokers.

“Market Watch currently showing 93.79 billion APEs outstanding. Clearly WRONG, wildly so. We are calling them now demanding this get corrected immediately. Also reviewing many other data sources to check for accuracy. So curse-word-here irresponsible that they publish false info,” said the CEO on Twitter.

The latest misinformation hit pieces have led shareholders to encourage Adam Aron to begin looking into the manipulation of AMC stock.

Related: Robinhood Sued in New Class Action Lawsuit

Is AMC Entertainment Going Bankrupt This Year?

It’s unlikely AMC Entertainment will be going bankrupt this year.

The CEO says the company will announce a sizeable cash position in their latest Q1 earnings report.

In terms of the movie industry itself, it’s growing.

Amazon (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) are now contributing billions of dollars to the movie theatre industry.

This is a great development for AMC Entertainment, the largest movie theatre chain in the world.

“Experts are now projecting that ticket sales will be off about 15% from before the pandemic (with 15% less product) and just about every studio is ramping up output.

After years of negotiations and failed experiments, theater chains and movie studios have reached something of a truce.

Studios will debut most of their movies in theaters and can now make them available at home within a few weeks,” says Bloomberg.

Do you think Robinhood reporting AMC filing for bankruptcy was a mistake?

Or is there a motive behind it?

Leave your thoughts below.

For more AMC Entertainment stock news and updates, join the newsletter below.

Market News Published Daily

Market News Today - Robinhood Reports AMC Entertainment Has Filed for Bankruptcy.
Market News Today – Robinhood Reports AMC Entertainment Has Filed for Bankruptcy.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


Antara Capital Discloses Shorting AMC Entertainment Stock

Market News Daily – Antara Capital Discloses Shorting AMC Entertainment Stock.

Antara Capital just disclosed it shorted AMC Entertainment (NYSE:AMC) stock in a new SEC filing.

“The exercise of a call option by a third-party holder obligated Antara Master Fund to effect a short sale of 10,700 shares of Class A Common Stock and borrow shares from an unaffiliated broker for delivery against the sale.”

“The exercise of a call option by a third-party holder obligated Antara Master Fund to effect a short sale of 600 shares of Class A Common Stock and borrow shares from an unaffiliated broker for delivery against the sale,” said the filing.

Antara disclosed shorting 11,300 total shares of AMC Entertainment from Wednesday, April 19 through Thursday, April 20.

Antara Capital has been selling AMC stock all year according to their insider transaction history.

Today, the institution holds zero shares of AMC Entertainment stock per Fintel.

Antara Insider Transaction History

Antara Cashes Out a Whopping $72.4 Million in APE Shares

Market News Daily - Antara Capital Discloses Shorting AMC Entertainment Stock.

An SEC filing shows Antara disposed more than 48 million APE shares at the price of $1.51 on Wednesday March 15, leaving the company with a total of 179.2 million shares in its armory.

The company currently has a 17.2% ownership in APE (NYSE:APE).

Soon, retail investors will no longer be able to purchase the equity as the shareholder vote to merge APE and AMC common stock has been approved.

The proposals, including AMC’s 1-for-10 reverse stock split, have been temporarily delayed until further notice.

AMC shareholders have raised concerns about Antara Capital, who was until now AMC’s largest institutional shareholder.

Like Wanda Group in 2021, the institution has dragged AMC’s share price down every time it sold shares.

One thing we saw happen after Wanda Group sold all their shares is it gave retail investors runway.

As AMC Entertainment stock ran up, there was no more heavy selling which meant shares had breathing room to keep rising.

Whether history repeats itself or not is something time will certainly tell.

Latest AMC Stock News 2023

latest amc stock news 2023
Latest AMC Stock News 2023.

Analyst firm Benchmark raised its growth estimates for AMC Entertainment Friday, citing better-than-expected domestic box office performance.

AMC will be reporting its fiscal first-quarter results before market open on May 5.

Benchmark now estimates that AMC will report first-quarter revenue of $912 million, up from its prior estimate of $831 million.

Analysts surveyed by FactSet are looking for first-quarter revenue of $930 million.

“Domestic box office exceeded our expectations,” Benchmark analyst Mike Hickey wrote in a note released Friday.

The analyst firm also raised its estimate for adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) to a loss of $37 million from its prior estimate of an $86 million loss.

Analysts surveyed by FactSet are looking for an EBITDA loss of $33 million.

Benchmark currently has a hold rating for AMC Entertainment.

Benchmark’s Hickey expects AMC to raise capital as soon as the settlement is resolved.

“We think AMC will immediately tap the capital markets on a successful transaction,” he wrote. “The capital raise would likely be used to provide relief to AMC’s significant net debt obligations.”

Market News Published Daily

Market News Today - Antara Capital Discloses Shorting AMC Entertainment Stock.
Market News Today – Antara Capital Discloses Shorting AMC Entertainment Stock.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


Ken Griffin Lobbied His Way Out of “Meme Stock” Scandal

Market News Daily - Ken Griffin Lobbied His Way Out of "Meme Stock" Scandal.
Market News Daily – Ken Griffin Lobbied His Way Out of “Meme Stock” Scandal.

Citadel’s Ken Griffin lobbied his way out of the “meme stock” scandal of 2021 when Citadel and Robinhood colluded just a night prior to the trading halts.

On February 18, 2021, he testified before the House Financial Services Committee about his role in the ‘meme stock’ controversy.

However, Ken Griffin donated money directly to four members of the committee, Republicans French Hill, Andy Barr, Ann Wagner, and Bill Huizenga, per Chicago Business.

The retail community is raising awareness of these actions today when lobbied congressmen still have the power to sweep market injustices under the rug.

Investors on social media say that in other places of the world this is called bribery.

“The game is not fair and it never has been. Individual investors, even when operating in a swarm, are destined to lose. How do I know? I helped design the game,” said ex-Citadel Data Scientist Patrick McConlogue.

Patrick McConlogue appeared on Fox Business during the ‘meme stock’ frenzy of 2021 when retail investors created one of the biggest scares in Wall Street history.

GameStop and AMC shareholders were able to create panic on Wall Street by heavily buying shares of the overleveraged shorted stocks.

As share prices soared, short sellers experienced massive losses.

GameStop was able to put Melvin Capital out of business, but Patrick McConlogue says other hedge funds were able to make back billions in losses during the halt.

The halts allowed hedge funds to enter AMC and GameStop knowing shares would plummet, allowing them to capitalize on the deflation of the price.

Citadel and Robinhood Colluded But There Was No Justice for Investors

Market News Today – Ken Griffin Lobbied His Way Out of “Meme Stock” Scandal.

The U.S. House Committee on Financial Services published a press release stating Robinhood and Citadel Securities engaged in ‘blunt’ negotiations before the trading of ‘meme stocks’ occurred.

The press release states that talks regarding lowering PFOF (payment for order flow) rates happened just a night before trading restrictions.

The “GameStopped” report issued by the U.S. House Committee on Financial Services greatly details how the NSCC saved Robinhood from defaulting due to failing to meet collateral obligations.

On January 28th, 2021, Robinhood routed orders to six market makers for equities: Citadel Securities, G1 Execution Services, Morgan Stanley, Two Sigma Securities, Virtu, and Wolverine.

The conversations between Robinhood and Citadel were tense as the two negotiated the price of PFOF rebate rates and price caps for AMC and GameStop.

Furthermore, Robinhood received a massive waiver of its deposit requirement from the DTCC.

And according to the report, without this waiver, Robinhood would have defaulted on its regulatory collateral obligations.

NSCC officials say the waiver was necessary to avoid systemic risk to the market.

The DTCC waived a total of $9.7 billion of collateral deposit requirements on January 28, 2021.

Robinhood is Being Sued in New Lawsuit

According to Business Insider, the court said at the time that the evidence between Citadel Securities and Robinhood was not sufficient.

But there is now a new lawsuit against Robinhood in 2023 which alleges that on January 28, 2021, Robinhood prohibited purchases of the stocks underlying the affected options on its platform and also prohibited purchases of the exercise of the affected options, and only allowed the closing out of such positions.

The lawsuit further alleges that during the period January 29, 2021 through February 4, 2021, Robinhood imposed significant limits on any purchases and continued to prevent the exercise of the affected options on its trading platform.

Consequently, the value of the affected options dropped dramatically and remained suppressed throughout the month, causing investors to suffer big losses, says the press release.

Ken Griffin’s Citadel may have been able to lobby themselves out of the situation, but Robinhood has litigation matters to attend to this year.

This raises questions about how government officials will ever be able to aid retail investors when lobbied congressmen can easily take opposing sides.

Market News Published Daily

Market News Today - Ken Griffin Lobbied His Way Out of "Meme Stock" Scandal.
Market News Today – Ken Griffin Lobbied His Way Out of “Meme Stock” Scandal.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


Analysts Are Now Predicting Big Growth for AMC Entertainment

Market News Daily - Analysts Are Now Predicting Big Growth for AMC Entertainment.
Market News Daily – Analysts Are Now Predicting Big Growth for AMC Entertainment.

Analyst firm Benchmark raised its growth estimates for AMC Entertainment (NYSE:AMC) Friday, citing better-than-expected domestic box office performance.

AMC will be reporting its fiscal first-quarter results before market open on May 5.

Benchmark now estimates that AMC will report first-quarter revenue of $912 million, up from its prior estimate of $831 million.

Analysts surveyed by FactSet are looking for first-quarter revenue of $930 million.

“Domestic box office exceeded our expectations,” Benchmark analyst Mike Hickey wrote in a note released Friday.

The analyst firm also raised its estimate for adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) to a loss of $37 million from its prior estimate of an $86 million loss.

Analysts surveyed by FactSet are looking for an EBITDA loss of $33 million.

Benchmark currently has a hold rating for AMC Entertainment.

Benchmark’s Hickey expects AMC to raise capital as soon as the settlement is resolved.

“We think AMC will immediately tap the capital markets on a successful transaction,” he wrote. “The capital raise would likely be used to provide relief to AMC’s significant net debt obligations.”

AMC stock closed up +0.50% on Friday but fell more than -5% in the past five trading days.

The movie theatre stock is up nearly +27% this year-to-date.

AMC Stock News Today

AMC Stock News Today
Market News Daily – Analysts Are Now Predicting Big Growth for AMC Entertainment.

AMC FTDs reached new heights in Q1 of 2023.

Its record date of highest FTDs in one single day happened on February 22nd, when AMC FTDs reached $61,047,531 in value, equivalent to 10,007,792 total FTDs priced at $6.10.

AMC FTDs closed at $20,402,436 by the end of the first quarter this year, equivalent to 4.1 million FTDs dated on March 31st.

FTDs, or Failure-to-deliver occurs when one party in a trading contract (whether it’s shares, futures, or options) fails to deliver on their obligations.

These failures derive due to buyers not having enough money to take delivery and pay for the transaction at settlement.

In the case of sellers, it means not having the goods to meet that transaction.

Failure-to-delivers can occur in options trading or when selling short naked, per Investopedia.

Despite AMC Entertainment well on the path to recovery, short sellers continue to demonstrate strong conviction.

S3 Partners estimates AMC short sellers paid a total of $1.91 billion in stock borrow fees in the first quarter of 2023, up from $1.54 billion in the fourth quarter of 2022.

In March, AMC stock was ranked the #1 stock with the highest borrow fee rate according to data from S3 Partners.

AMC’s cost to borrow shot up to 1,000% during the start of the second quarter this year.

Related: Amazon and Apple Are Now Contributing Billions to Movie Industry

Market News Published Daily

Market News Today - Analysts Are Now Predicting Big Growth for AMC Entertainment.
Market News Today – Analysts Are Now Predicting Big Growth for AMC Entertainment.

For stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily posts.


Franknez.com

You can now read exclusive FrankNez articles for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


« Older posts

© 2023 Franknez.com

Theme by Anders NorenUp ↑