Prog's right, it's ($AMC) totally jumped the rails on any sort of logical reasoning for the stock price.
Several of us had gotten into it before the madness started, on the thesis that it could recover over the next couple of years from a price of $2 to maybe $6-8 as theater volume came back in. I still imagine that's a valid thought once it returns to being half the price of a Starbucks coffee.
Take your gains. Anything you leave in these names right now (GME, KOSS, AMC) is pure gambling at the moment, IMO.
The other thing is that a lot of people think that it's going to be like GME due to the short %. I just saw an article that discussed how a company converted some of the debt AMC had with them (to the tune of $600M) into shares, which they have sold over this last week. Net profit was something like $122 million. AMC has issued a lot of debt since COVID started; I have no idea how many other companies can or could be doing this with their accumulated debt.
Class of 1998;
Husband of an Aggie, Class of 1999;
Father to future Class of 2029 and 2031
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