Meme mania favorite AMC Entertainment (NYSE:AMC) continues to remain in the spotlight. Today, Cineworld Group has denied engaging in any discussions with AMC and has noted that it will not put its assets on the block individually.
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Now, Cineworld is focusing on selling itself as a whole and a transaction can be expected in early 2023, according to Reuters.
Meanwhile, AMC shares have tanked 77% over the past year and short interest in the stock continues to remain high at about 21% at present.
On top of this downward spiral, the Street too has a Moderate Sell consensus rating on AMC alongside an average price target of $2.53. This points to a further 37.53% potential downside in the stock.
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