Nasdaq’s latest report on APE is showing the security only has 0.18% in institutional ownership.
AMC’s Preferred Equity was recently listed on Yahoo Finance’s ‘Top Most Shorted Stocks List‘.
The stock has had an insane amount of demand in the market from retail investors, but overleveraged shorting has suppressed the stock’s price from rising.
APE has fallen below $1 despite above average daily trading volume.
But institutional ownership has also largely declined according to the latest Nasdaq report.
And with AMC Entertainment selling APE shares through Citigroup, holders of the equity keep getting hammered.
Here’s the latest on APE.
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New and Sold Out APE Positions
According to Nasdaq, there are only 8 new institutional positions in APE with 298 total sold out positions.
This is equivalent to 327,046 institutional shares added versus 145.5 million shares sold.
Out of 13 institutions holding APE, 4 remained unchanged.
This means retail investors have very little help from institutions in driving the share price up.
Nearly all institutions who received APE through AMC have sold it.
AMC Entertainment capitalized from APE in October when it was able to claim $106 million and pay down some debt.
Not even insiders are buying the equity.
But AMC shareholders are convinced that APE’s high short interest mixed with large buying pressure will trigger an APE short squeeze.
Does APE Need Institutional Buyers to Squeeze?
I’d love to hear your opinion on this.
The past has shown us that both retail and institutional investors moved AMC Entertainment stock to higher highs in 2021.
Retail investors were able to successfully instill confidence in institutions as AMC’s share price began to rise.
Or is APE’s major decline simply a factor from this year’s bear market?
Leave your thoughts in the comment section down below.