Credit Suisse (NYSE:CS) shares are now less than AMC’ price target of $0.95.
The bank had given AMC Entertainment (NYSE:AMC) stock a price target of 95 cents per share and claimed shareholders of the movie theatre chain company should sell.
At the time of the publication, Credit Suisse was trading at $3.95, AMC Entertainment at $6.50, or $8.59 combined with APE.
AMC shares are currently trading above $4.30 but Credit Suisse shares have now fallen below $0.95, the price target they gave AMC during the fourth quarter of 2022.
On Monday, shares fell by more than 50% amid its acquisition by UBS.
Credit Suisse clients have been pulling billions of dollars from the bank over the past months.
In November, the bank warned investors in a filing of potential losses due to covering naked shorts.
The bank too big to fail is now being kept on life support.
Retail Investors Mock the Bank’s Failure
Majority of AMC shareholders are for the most part, retail activist, fighting for market transparency and a leveled playing field in the market.
This activism was conceived around the time Citadel, Robinhood, and other brokerages halted the trading of ‘meme stocks’, including GameStop, and others.
Fortunately for AMC Entertainment, its run in January was only the beginning.
Shares later rose to an all-time high of $72 per share in June before winding down to current levels today.
But one of the most unsettling experiences shareholders have faced, aside from blatant market manipulation (dark pools/off exchange trading, naked short selling, etc.) has been the short and distort campaigns from Wall Street media.
Credit Suisse had CNBC’s help to push AMC’s $0.95 price target — a tactic used by short sellers to drive shares even lower.
Media outlets such as TheFool, MarketWatch, Benzinga, WSJ, and Jim Cramer, undermined AMC Entertainment.
But retail investors weren’t scared off so easily.
Since then, various media platforms and personalities have lost trust and credibility in the eyes of retail investors.
Latest AMC Stock News
Investors have recently begun to make big purchases on AMC’s new branded popcorn.
While people are slowly beginning to see AMC Perfectly Popcorn on shelves, many have already bulked up — an effort to support the company and fight Wall Street pessimists.
Since March 11, Walmart customers can have their choice of six different varieties of AMC popcorn — extra butter, classic butter, or lightly salted, in popped or kernel form.
The microwave popcorn will cost $4.98 for a 6-count.
Meanwhile, the ready-to-eat popcorn bags will cost $3.98, per AMC.
Adam Aron said the company remains focused on “future innovations that will continue to surprise and delight movie lovers and our shareholders.”
“I’ve made a decision to buy $200 of these bags per month and hand them out to anyone and everyone.
People in the store, people in the parking lot etc. Friends.
CREATE more customers.
That’s 50 free bags/month”, said an investor.
Related: AMC CEO Adam Aron Hints at Destroying Short Seller Thesis
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About The Author
It would be ironic if Credit Suisse tried to sue SEC for their losses because SEC failed to stop them from naked shorting (selling fake shares) initially – or SEC failed to force them to cover naked shorts months/years ago when it wouldn’t have cost them as much as to cover their fraud now.
At some point they will all turn against one another.
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