AMC STOCK Rally could be coming again?
AMC Stock has been the retail trader’s favorite stock. AMC sought earlier this year to authorize the sale of 500 million new shares but withdrew the plan in April amid objections from shareholders worried about dilution. Still, the company said at the time it was likely to revisit the idea “at some point in the future.”
“This can be a real way for AMC to grow again, creating immediate value for AMC shareholders,” Chief Executive Adam Aron wrote in a Twitter thread. “This is not mindless dilution, but rather this is the very smart raising of cash so that we can grow this company.”
AMC has been making smart moves in the business and having the cash flow and getting rid of debts are the great fundamental moves AMC is making lately.
AMC stock has never been the fundamental trading and it’s more of the retail momentum and short squeeze rally. After the small selloff from its all-time high, the AMC stock is picking up again from the retail rally. Wallstreet bets and Apes discussions have been increasing rapidly once again all over social media and momentum is growing.
The big question in everyone’s mind is what’s really going on with the stock price. The institutional ownership seems to be increasing in the stock over the last month since the stock was trading lower than all-time high price and this could be looking for the resistance line and breaking out to $50.