Citigroup is giving AMC Entertainment a salty $1.20 price target after shorting the stock the past year.
The institution has filed a 13F-HR form disclosing ownership of 158,173 shares of AMC Entertainment Holdings, Inc.
The holdings are valued at $1.1 million USD.
Citigroup Inc. had a previous 13F-HR filing back in August of 2022 disclosing 215,347 shares of AMC stock valued at $2.9 million.
The bank, headquartered in New York, also has a history of taking positions in AMC derivatives in the form of stock options.
And it’s been playing put options on the world’s largest movie theatre chain while selling off shares.
Citigroup has been shorting AMC Entertainment through unethical market manipulation tactics.
But more on that below.
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Citigroup Bets Against AMC Entertainment
Citigroup currently holds call options representing 0 of underlying shares valued at $0 USD and put options representing 55,000 of underlying shares valued at $383,000 USD.
The bank has been selling shares while playing put options in order to profit from the drops they’re triggering in the market.
This incredible advantage over retail investors has the AMC community raising awareness of the market injustices created by banks and hedge funds alike.
The leverage banks have is unlimited when compared to the buying power of retail investors.
Retail is wondering when will regulators acknowledge the hard-working American people who simply want a leveled playfield when it comes to investing their money?
Gensler has been under heavy scrutiny by retail investors as concerns over the past two years have fallen upon deaf ears.
But that’s not all.
Citigroup is also using the media to promote a $1.20 share price target for AMC Entertainment.
That’s right, as of November 7th, 2022, Citigroup has dropped AMC’s price target from $3.13 per share to $1.20 per share.
Looks like Citigroup is doing everything they can to profit from AMC by selling shares, playing puts, and promoting a declining price target using the media.
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