What's Going On With AMC Entertainment Stock?

Zinger Key Points
  • AMC shares are rebounding on heavy trading volume Tuesday. 
  • 16.04% of available shares are being sold short which can contribute to large price moves when combined with heavy trading volume. 

AMC Entertainment Holdings, Inc. AMC shares are trading higher Tuesday and the stock is trending across social media. Here's a look at what to know. 

The Details:

Last Tuesday, AMC CEO Adam Aron told The Hollywood Reporter that he does not see bankruptcy or restructuring in the company’s future. 

"Personally, I think it's inconceivable that AMC would have to restructure like Regal Cinemas did and file for Chapter 11," Aron said. "One of the things I'm very proud of is that going into the pandemic, AMC was in a very strong position."

Aron's comments followed AMC shares hitting new all-time lows and a $250 million equity distribution program by the company. 

AMC shares are rebounding on heavy trading volume Tuesday.  According to data from Benzinga Pro, more than 20 million shares have been traded in the session, compared to the stock’s 100-day average of just over 14.5 million  shares.

AMC's stock has grabbed the interest of short-sellers and retail investors alike. According to data from Benzinga Pro, 16.04% of available shares are being sold short which can contribute to large price moves when combined with heavy trading volume. 

Related News: What’s Going On With Rivian Automotive Stock?

Will AMC Stock Go Up?

When trying to assess whether or not AMC Enter Hldgs AMC will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $6.0 on AMC Enter Hldgs. The Street high target is currently at $6.0 and the Street low target is $6.0. Of all the analysts covering AMC Enter Hldgs, no one has positive ratings, one has neutral ratings and no one has negative ratings.

In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering AMC Enter Hldgs have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. AMC Enter Hldgs is 94.48% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about AMC Enter Hldgs, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

AMC Price Action: According to Benzinga Pro, AMC Entertainment shares are up 12.6% at $2.78 at the time of publication Tuesday.

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