Market News

AMC Continues Rollercoaster Ride

Shares of meme mania favorite AMC Entertainment (NYSE:AMC) continue to remain volatile.

While still down nearly 50% so far this year, shares of the company have put on 21% gains in the past month. At the same time, short interest in the stock remains as high as ever at about 21%.

Further, AMC continues to see high trading volumes and saw a brief trading halt yesterday.

During the peak of the meme mania, AMC shares had skyrocketed from $1.3 to $nearly $40. Since then though, shares have gradually dropped to the current $8 level.

This decline though has been accompanied by fund raises which diluted the company’s investors and the price of the preferred equity units of the company (NYSE:APE) has tanked from highs of $10 to the present $0.98 levels.

The Street currently has a Moderate Sell rating on the stock alongside an average price target of $2.78.

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