AMC Enter Hldgs Stock (NYSE:AMC), Trade Ideas

AMC Enter Hldgs

AMC Entertainment Holdings Inc is involved in the theatrical exhibition business. It owns, operates or has interests in theatres located in the United States and Europe. It provides amenities such as plush, power recliners, MacGuffins full bars, AMC Dine-In Theatres, premium presentation. The Company has identified two reportable segments and reporting units for its theatrical exhibition operations, U.S. markets and International markets. It derives key revenue from the U.S.

movie theater AMC

News

Movers

AMC shares continue their recent rally on Monday in spite of a lack of company specific news. Last Thursday, Wedbush analyst Alicia Reese maintained a Neutral rating on AMC Entertainment and lowered the price target from $6 to $4, citing the company&#39;s heavy debt load overshadowing positives including improving box office trends.

What&#39;s Going On With AMC Entertainment Stock?

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Why Super Micro Computer Shares Are Trading Lower By Around 13%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

New,York,Ny - usa-june,22,,2005,December,29,,2011,The,Amc

Retail investors have reignited interest in AMC, and the stock is frequently trending and moving on heavy trading volume. According to data from Benzinga Pro, more than 12.22 million shares have already been traded in Friday&#39;s session, on track to surpass the stock&#39;s 100-day average of 14.907 million shares.

What&#39;s Going On With AMC Entertainment Stock Today?

AMC Entertainment Holdings, Inc. Class A Common Stock

AMC Entertainment Holdings Inc

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ANDATEE CHINA MARINE FUEL by Andatee China Marine Fuel Services Corp

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AMCO UTD HLDGS LTD by Amco United Holding Ltd

AMERICAN ED CTR INC by American Education Center, Inc.

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AMC Networks Inc

ACS Global Inc

On Tuesday, the main U.S. stock indexes closed with varied results: the Dow Jones Industrial Average rose by 0.2% to reach 37,798.97, while the S&amp;P 500 dipped by 0.2% to 5,051.41. The Nasdaq saw a slight fall of 0.1% to 15,865.25.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) closed the day with a 1.71% increase at $617.52. The stock hit an intraday high of $622.45 and a low of $607.5. Its 52-week range is $315.62 to $639. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38278466/netflix-q1-earnings-preview-subscriber-growth-potential-price-increase-ad-tier-plan">Netflix is set to report its first-quarter financial results</a> on Thursday, April 18, 2024, after market close.
AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) saw a 10.12% increase, closing at $2.72. The stock&#8217;s intraday high was $2.89 and the low was $2.38. Its 52-week range is $2.38 to $62.3. <a href="https://www.benzinga.com/news/24/04/38278889/whats-going-on-with-amc-entertainment-stock">AMC shares were trending across social media</a> on Tuesday. &#8220;Personally, I think it&#8217;s inconceivable that AMC would have to restructure like Regal Cinemas did and file for Chapter 11,&#8221; said AMC CEO Adam Aron.
United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rose by 1.12% to close at $41.50. The stock&#8217;s intraday high was $41.72 and the low was $40.1. Its 52-week range is $33.68 to $58.23. <a href="https://www.benzinga.com/news/earnings/24/04/38280727/united-airlines-stock-takes-off-on-q1-earnings-beat-the-details">United Airlines reported first-quarter revenue</a> of $12.539 billion, beating the consensus estimate of $12.4 billion.
WiSA Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WISA#NASDAQ">WISA</a>) skyrocketed by 248.57% to close at $6.1. The stock&#8217;s intraday high was $8.6 and the low was $2.43. Its 52-week range is $1.66 to $402. <a href="https://www.benzinga.com/markets/equities/24/04/38273285/why-wisa-technologies-shares-are-skyrocketing-today">WiSA Technologies&#8217; unit WiSA Association executed its fourth 5-year WiSA E licensing agreement</a> with a fourth major HDTV/PTV (Projection TV) brand.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) closed the day down by 2.71% at $157.11. The stock hit an intraday high of $158.19 and a low of $153.75. Its 52-week range is $152.37 to $299.29. <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38262675/not-good-for-tesla-if-its-true-says-fund-manager-as-new-report-says-ev-maker-has-pu">Tesla has reportedly put on hold the development of its low-cost vehicle</a>.
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Prepare for the day&#8217;s trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38240638/will-bitcoin-slump-to-20k-amid-increasing-middle-east-tensions-peter-schiff-doesnt-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Will Bitcoin Slump To $20K Amid Increasing Middle East Tensions? Peter Schiff Doesn&#8217;t Rule Out Possibility, Citing Technical Pattern.</a>
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Equities

TSLA

Netflix, AMC, United Airlines, WiSA Technologies, Tesla: Why These 5 Stocks Are On Investors' Radars Today

In a recent episode of CNBC&#8217;s &#8220;Mad Money,&#8221; host Jim Cramer discouraged viewers from investing in AMC Entertainment Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) stock, citing the company&#8217;s recent performance. Instead, he recommended two other stocks.
What Happened: Cramer, in his &#8220;Lightning Round&#8221; segment, expressed his reservations about AMC&#8217;s stock on Monday, as <a href="https://www.cnbc.com/2024/01/29/cramers-lightning-round-we-dont-want-amc.html">reported</a> by CNBC on Monday. He suggested that the company&#8217;s stock isn&#8217;t performing well, attributing this to a decline in moviegoers.
"We don't want AMC. AMC's not doing well. We want stocks that go higher…The consumer's not going to the movies like they used to."
He advised viewers to consider investing in Northrop Grumman Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) and John Bean Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JBT#NYSE">JBT</a>) instead. Cramer, who had previously been hesitant about Northrop Grumman, said he was now ready to &#8220;pull the trigger&#8221; at the current price of $438.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/01/36828433/forget-gamestop-stock-now-theres-a-gamestop-memecoin-and-its-worth-millions?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Forget GameStop Stock, Now There&#8217;s A GameStop Memecoin And It&#8217;s Worth Millions</a>
He also expressed his fondness for John Bean Technologies, a company in the global industrial food sector, calling it &#8220;a little quirky, but good.&#8221;
Why It Matters: AMC has been a subject of intense market speculation and short interest. AMC&#8217;s short percent of float <a href="https://www.benzinga.com/insights/short-sellers/24/01/36806137/peering-into-amc-enter-hldgss-recent-short-interest">increased by 3.51% in a recent report</a>. The company has 24.10 million shares sold short, which is 9.74% of all regular shares available for trading. This indicates a bearish market sentiment towards the stock.
Despite a 45.2% year-over-year increase in third-quarter revenue, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/11/35708050/what-will-be-amcs-innovative-recovery-path-post-pandemic-this-analyst-wants-to-wait">AMC&#8217;s recovery post-pandemic</a> has been a subject of debate. In November, Benchmark analyst Mike Hickey reiterated a Hold rating on the stock, suggesting a wait-and-see approach to its innovative recovery path.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/01/36814939/if-you-invested-1000-in-apple-when-the-ipad-was-launched-14-years-ago-heres-how-much-youd-have-t?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">If You Invested $1000 In Apple When The iPad Was Launched 14 Years Ago, Here&#8217;s How Much You&#8217;d Have Today</a>
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Analyst Color

Analyst Ratings

General

Jim Cramer Advises Against AMC Stock, Suggests These Two Stocks Instead: 'The Consumer's Not Going To The Movies Like They Used To'

U.S. stocks ended Wednesday in the red, with the Nasdaq Composite falling more than 170 points. The Dow traded down 0.76% to 37,430.19 while the NASDAQ fell 1.18% to 14,592.21. The S&amp;P 500 also fell, dropping 0.8% to 4,704.81. 
Transitioning into individual stock performances, these are the top stocks that gained the attention of retail traders and investors throughout the day:
AMC Entertainment Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>)
AMC shares traded lower by 8.67%, closing at $5.58. The stock fluctuated between a high of $6.07 and a low of $5.55, with a 52-week range of $5.55 to $85.3. AMC announced a series of <a href="https://www.benzinga.com/news/24/01/36471959/whats-going-on-with-amc-entertainment-stock">privately negotiated exchange agreements</a>, issuing shares for its subordinated notes. Analyst Eric Wold of B. Riley Securities maintained a Neutral rating on AMC, adjusting the price target from $15 to $12.
Cal-Maine Foods Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CALM#NASDAQ">CALM</a>)
CALM shares dropped 3.21%, closing at $54.86. The stock hit an intraday high of $56.34 and a low of $54.66, with a 52-week range of $42.25 to $61.91. The company reported weaker-than-expected second-quarter results, with a significant <a href="https://www.benzinga.com/news/earnings/24/01/36479813/cal-maine-foods-stock-sinks-after-company-posts-weak-q2-results-company-provides-hpai-outlook-the-d">decrease in sales</a> and average selling price for conventional eggs. Despite these challenges, Cal-Maine Foods is confident in its ability to manage the impact of the HPAI outbreak on its operations.
Li Auto Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>)
LI shares increased by 3.32%, closing at $35.74. The stock saw an intraday high of $35.82 and a low of $34.57, with a 52-week range of $19.81 to $47.33. Goldman Sachs analyst Tina Hou <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36477500/goldman-sachs-bullish-on-li-auto-anticipates-50-upside-from-this-leading-pure-nev-p">initiated coverage</a> on Li Auto with a Buy rating, setting a price target that implies a 52.9% upside. The company&#8217;s growth is driven by increasing monthly deliveries and the launch of new electric vehicle models.
SoFi Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>)
SOFI shares declined by 13.89%, closing at $8.31. The stock&#8217;s intraday high was $9.03, and the low was $8.28, with a 52-week range of $4.45 to $11.7. The drop <a href="https://www.benzinga.com/news/24/01/36474976/why-sofi-technologies-shares-are-trading-lower-by-around-13-here-are-other-stocks-moving-in-wednesda">followed a downgrade</a> by Keefe, Bruyette &amp; Woods from Market Perform to Underperform, with a lowered price target.
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)
TSLA shares fell 4.01%, closing at $238.45. The stock reached a high of $245.68 and a low of $236.32, with a 52-week range of $101.81 to $299.29. On Wednesday, GLJ Research CEO Gordon Johnson said in an appearance on CNBC that &#8220;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/01/36464776/tesla-bear-says-evs-are-not-for-the-masses-despite-impressive-q4-deliveries-you-can">EVs are not for the masses</a>.&#8221; Johnson noted the steep prices of EVs and the fact that they are &#8220;hard to afford for a worker who makes an average salary of $65,000/year.&#8221;
Prepare for the day's trading <a href="Premarket Movers &amp; News &#x2A;&#x2A;">&#x2A;&#x2A;with top premarket movers and news</a> by Benzinga.
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CALM

SOFI

AMC, Cal-Maine Foods, Li Auto, SoFi Technologies, Tesla: Why Are These 5 Stocks On Investors' Radars Today

U.S. stocks experienced a downtrend towards the end of trading, with significant indices including the Nasdaq Composite and the S&amp;P 500 reflecting the bearish sentiment. The Nasdaq Composite took a hit, falling more than 80 points, echoing the declines in the Dow and the S&amp;P 500. The tech-heavy index slid down 0.63% to 13,574.22 on Thursday. The Dow was down 0.51% at 33,631.14, while the S&amp;P 500 fell 0.62% to 4,349.61.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Dollar General Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) closed the day at a 1.77% loss, with a final price of $101.83, after reaching an intraday high of $104.26 and a low of $101.09. The stock&#8217;s 52-week range stood between $261.59 and $101.09. The company&#8217;s shares traded higher in the after-hours following an update on its outlook and the <a href="https://www.benzinga.com/news/23/10/35230231/why-dollar-general-stock-is-moving-higher">appointment of a new CEO</a>. Dollar General revised its fiscal-year 2023 outlook and announced the resignation of Jeff Owen, with Todd Vasos stepping in as the new CEO.
The Boeing Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) ended the day with a 2.43% loss at $191.3, after hitting an intraday high of $195.7 and a low of $189.96. The stock&#8217;s 52-week performance ranged from $243.1 to $124.17. Boeing is in the spotlight for its <a href="https://www.benzinga.com/pressreleases/23/10/n35219213/boeing-nasa-united-airlines-to-test-saf-benefits-with-air-to-air-flights">collaboration with NASA and United Airlines</a> to test the benefits of sustainable aviation fuel (SAF) with air-to-air flights, marking a significant step towards sustainability in aviation.
JD.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) suffered an 8.27% loss, closing at $27.83. The stock peaked at $29.95 and bottomed at $27.55 during the day, with its 52-week high and low standing at $67.1 and $27.55 respectively. JD.com was part of the broader bullish sentiment in Hong Kong markets, lifted by China's sovereign fund purchasing bank stocks, as reported in this <a href="https://www.benzinga.com/markets/penny-stocks/23/10/35224132/hong-kong-stocks-rally-as-sovereign-bank-buy-up-overshadows-climb-in-negative-mortgages">Benzinga article</a>.
AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) saw a 5.57% increase, closing at $11, with an intraday high of $11.17 and a low of $10.21. The stock&#8217;s 52-week performance has been volatile, reaching a high of $91.5 and a low of $7.05. AMC's stock ascended following the anticipation of the <a href="https://www.benzinga.com/news/23/10/35219540/whats-going-on-with-amc-entertainment-stock-thursday">Taylor Swift Eras Tour concert film debut</a>, setting a record for ticket sales revenue.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) closed at a 1.57% loss at $258.87, with an intraday high of $265.41 and a low of $256.63. The electric vehicle maker&#8217;s 52-week range is between $299.29 and $101.81. Tesla issued a warning about the <a href="https://www.benzinga.com/news/23/10/35212275/tesla-warns-strong-likelihood-of-model-3s-7500-tax-credit-getting-slashed-next-year">likely reduction of the Model 3's tax credit</a> next year, urging customers to finalize their purchases to avail the full incentive.
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Media

Dollar General, Boeing, JD.Com, AMC, Tesla — Why These 5 Stocks Are Trending Today?

The Hollywood strike, which has lasted for months, <a href="https://www.benzinga.com/news/23/09/34785041/breakthrough-in-hollywood-writers-and-producers-close-to-ending-100-day-strike" target="_blank" rel="noreferrer noopener">is nearing its end</a>, and it&#8217;s the right time to reflect on the <a href="https://www.benzinga.com/general/entertainment/23/05/32175899/is-your-favorite-show-affected-by-the-writers-strike-3-hit-series-go-on-halt-and-only-one-t" target="_blank" rel="noreferrer noopener">shows that faced disruption</a> during this period.
What Happened:&nbsp;Negotiations between the major film and television studios and the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/23/05/32125907/writers-strike-looms-over-hollywood-average-residual-checks-can-barely-cover-an-in-n-out-bu" rel="noreferrer noopener">striking writers from</a>&nbsp;the&nbsp;Writers Guild of America&nbsp;or&nbsp;WGA&nbsp;have yielded a tentative agreement, marking a significant turning point in the labor dispute.
In an email to members, the WGA expressed their gratitude, saying, &#8220;What we have won in this contract – most particularly, everything we have gained since May 2nd – is due to the willingness of this membership to exercise its power, to demonstrate its solidarity, to walk side-by-side, to endure the pain and uncertainty of the past 146 days,&#8221;&nbsp;<a target="_blank" href="https://edition.cnn.com/2023/09/24/business/wga-strike-ends-reaches-deal/index.html" rel="noreferrer noopener">reported</a>&nbsp;CNN.&nbsp;
While the agreement terms are not immediately known, the WGA hailed the tentative deal as exceptional, promising meaningful gains and protections for writers across all membership sectors.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/23/08/33852677/netflix-iger-lead-the-way-as-hollywood-studios-offer-a-new-deal-to-striking-writers" rel="noreferrer noopener">Netflix, Iger Lead The Way As Hollywood Studios Offer A New Deal To Striking Writers</a>
The strike&#8217;s effects rippled beyond the realm of writers. The actors&#8217; union,&nbsp;SAG-AFTRA, representing approximately 160,000 actors, has been on strike since mid-July in solidarity with the writers.&nbsp;
Both strikes have cascaded<a target="_blank" href="https://www.benzinga.com/general/entertainment/23/05/32431660/hollywood-writers-strike-hits-hbos-the-last-of-us-season-2" rel="noreferrer noopener">&nbsp;the entertainment industry</a>, leading to production delays, financial losses, and layoffs in various sectors.
One crucial issue that emerged during the negotiations was the role of artificial intelligence in content creation. Writers expressed&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/07/33358596/aoc-joins-picket-lines-with-striking-actors-writers-says-this-is-a-fight-against-ai-and-wall-street" rel="noreferrer noopener">concerns about the rise of AI</a>&nbsp;and its potential to replace human writers in the industry.&nbsp;
While the tentative agreement is a significant step forward, it does not immediately end the strike. The WGA is clear that members should not return to work until authorized by the Guild.&nbsp;
However, the report noted that the WGA has suspended picketing activities, suggesting a shift in the tone of the ongoing dispute.&nbsp;
A Look Back At The Shows That Have Been Affected By This Strike
Late-Night Shows: ABC&#8217;s&nbsp;&#8220;Jimmy Kimmel Live,&#8221;&nbsp;CBS&#8217;s&nbsp;&#8220;The Late Show,&#8221;&nbsp;NBC&#8217;s&nbsp;&#8220;Tonight&#8221; and &#8220;Late Night,&#8221; and&nbsp;HBO&#8217;s&nbsp;&#8220;Real Time with Bill Maher&#8221; and &#8220;Last Week Tonight with John Oliver&#8221; all went on hiatus, with reruns replacing live broadcasts.&nbsp;
Comedy Central&#8217;s&nbsp;&#8220;The Daily Show&#8221; was also paused during this period.
Abbott Elementary:&nbsp;The third season&#8217;s writers&#8217; room for the Emmy-winning show &#8220;Abbott Elementary&#8221; closed, potentially impacting the number of episodes for the upcoming season.
AMC Shows:&nbsp;Despite completed scripts, production for&nbsp;AMC&#8217;s Anne Rice&nbsp;series and &#8220;Walking Dead&#8221; spinoff remained halted.
American Dad/Family Guy:&nbsp;The teams behind &#8220;American Dad&#8221; and &#8220;Family Guy&#8221; stopped working in support of the strike.
Andor:&nbsp;Showrunner&nbsp;Tony Gilroy&nbsp;discontinued all activities on the&nbsp;Disney+ show&nbsp;&#8220;Andor.&#8221;
Big Mouth:&nbsp;The&nbsp;Netflix&nbsp;animated series was affected during the writing of its final season.
Blade: Marvel&nbsp;halted pre-production on the vampire reboot &#8220;Blade.&#8221;
Cobra Kai:&nbsp;The writers&#8217; room for &#8220;Cobra Kai&#8221; season 6 closed, and no writers were on set for production.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We hate to strike, but if we must, we strike hard. Pencils down in the Cobra Kai writers room. No writers on set. These aren&#39;t fun times, but it&#39;s unfortunately necessary. The moment a fair deal is in place, we&#39;ll get back to kicking ass. In the meantime, sending strength and… <a href="https://t.co/99UulF7HeW">https://t.co/99UulF7HeW</a>
&mdash; Jon Hurwitz (@jonhurwitz) <a href="https://twitter.com/jonhurwitz/status/1653392069665214467?ref_src=twsrc%5Etfw">May 2, 2023</a></blockquote>
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Evil:&nbsp;Production on Season 4 of the&nbsp;Paramount+&nbsp;series wrapped earlier than anticipated due to picketing WGA members.
Good Omens:&nbsp;The long-awaited season 2 of &#8220;Good Omens&#8221; faced uncertainty as creator&nbsp;Neil Gaiman&nbsp;supported the writers&#8217; strike.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I&#39;m in the Writers Guild of America. I wish this wasn&#39;t happening and support it absolutely. When I wake up tomorrow I&#39;ll be on strike. (To forestall the inevitable questions, Good Omens 2 is completed and handed in. Although I may not be able to promote it as I had hoped.) <a href="https://t.co/sc64H4bm5E">https://t.co/sc64H4bm5E</a>
&mdash; Neil Gaiman (@neilhimself) <a href="https://twitter.com/neilhimself/status/1653275780074307585?ref_src=twsrc%5Etfw">May 2, 2023</a></blockquote>
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The Last of Us: Warner Bros. Discovery&#8217;s&nbsp;&#8220;The Last of Us&#8221; also encountered a setback as production was put on hold, and the show&#8217;s co-creator&nbsp;Craig Mazin&nbsp;advocated for the rights of fellow writers.&nbsp;
House of the Dragon:&nbsp;Scripts for the second season of &#8220;House of the Dragon&#8221; were turned in, but executive producer&nbsp;Ryan Condal&nbsp;remained working on the series in a non-writing capacity.
Jeopardy!: Mayim Bialik&nbsp;stepped away from hosting duties on &#8220;Jeopardy!&#8221; to support the strike, with&nbsp;Ken Jennings&nbsp;filling in for her.
MTV Movie Awards:&nbsp;Host&nbsp;Drew Barrymore&nbsp;exited her role, and the red-carpet event was canceled.
Rap Sh!t:&nbsp;Production on the second season of the&nbsp;Issa Rae&nbsp;series wrapped in April.
The Rings of Power:&nbsp;Production for the second season of &#8220;The Lord of the Rings: The Rings of Power&#8221; continued, but executive producers&nbsp;J.D. Payne&nbsp;and&nbsp;Patrick McKay&nbsp;supported the strike.
Saturday Night Live:&nbsp;The live sketch show went dark, supporting the writers&#8217; strike.
Stranger Things:&nbsp;The show creators, the Duffer brothers, halted production on the Netflix series, saying it would continue until an agreement was reached between the WGA and AMPTP.&nbsp;
The Talk:&nbsp;&#8220;The Talk&#8221; ceased filming, but previously recorded new episodes continued to air.
The Upshaws:&nbsp;Production on the Netflix sitcom &#8220;The Upshaws&#8221; was suspended, with already completed episodes set to premiere.
Yellowjackets:&nbsp;Writing for season 3 of the&nbsp;Showtime&nbsp;drama &#8220;Yellowjackets&#8221; halted after just one day of progress.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Well, we had exactly one day in the <a href="https://twitter.com/hashtag/YellowJackets?src=hash&amp;ref_src=twsrc%5Etfw">#YellowJackets</a> S3 writers' room. It was amazing, and creatively invigorating, and so much fun, and I'm very excited to get back to it as soon as the <a href="https://twitter.com/hashtag/WGA?src=hash&amp;ref_src=twsrc%5Etfw">#WGA</a> gets a fair deal. <a href="https://twitter.com/hashtag/1u?src=hash&amp;ref_src=twsrc%5Etfw">#1u</a> <a href="https://twitter.com/hashtag/unionstrong?src=hash&amp;ref_src=twsrc%5Etfw">#unionstrong</a> &#x270a;&#x1f41d;
&mdash; Ashley Lyle (@ashannlyle) <a href="https://twitter.com/ashannlyle/status/1653277529061601280?ref_src=twsrc%5Etfw">May 2, 2023</a></blockquote>
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Editor&#8217;s Note: Artificial intelligence was used as a secondary aid in writing this story.
Photo by CLS Digital Arts on Shutterstock
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/consumer-tech" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/general/entertainment/23/07/33223353/double-strike-in-hollywood-actors-and-writers-unite-in-work-stoppage" rel="noreferrer noopener">Double Strike In Hollywood: Actors And Writers Unite In Work Stoppage</a>

Entertainment

Tech

Historic Hollywood Strike Nears End, But Battle Isn't Over: Look Back At The Shows Affected

U.S. stocks experienced a downward trend midway through trading, with the Dow Jones declining approximately 200 points on Wednesday. The Dow ended Wednesday lower by 0.57% to 34,443.19, while the NASDAQ saw a decrease of 1.06% to 13,872.47. Similarly, the S&amp;P 500 also witnessed a drop, falling 0.7% to 4,465.48. 
These are the top stocks that gained the attention of retail traders and investors throughout the day:
GameStop Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) GameStop shares saw a decline of 2.50%, closing at $18.75. The stock&#8217;s intraday high was $19.15, with a low of $18.42, and a 52-week range between $15.41 and $34.99. GameStop announced a Q2 net sales increase of 2.5% year-over-year, reaching $1.16 billion. This performance surpassed analysts&#8217; expectations. However, the company will not be holding a conference call to discuss these results. A notable mention is the upcoming movie &#8220;Dumb Money,&#8221; which focuses on the GameStop stock saga and is set to release on September 22. <a href="https://www.benzinga.com/news/earnings/23/09/34293319/gamestop-q2-earnings-highlights-revenue-beat-eps-beat-no-conference-call">Read more about GameStop&#8217;s performance here</a>.
Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) Apple&#8217;s shares decreased by 3.58%, closing at $182.91. The stock&#8217;s intraday high and low were $188.85 and $181.47, respectively, with a 52-week range of $124.17 to $198.23. Recent reports suggest that China has banned the use of iPhones for government officials at work, aligning with Beijing&#8217;s cybersecurity and technology self-reliance efforts. <a href="https://www.benzinga.com/news/23/09/34286415/why-apple-shares-are-falling">Find out more about Apple&#8217;s stock movement here</a>.
Pfizer Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) Pfizer&#8217;s stock declined by 2.85%, closing at $34.37. The intraday high and low were $35.28 and $34.26, respectively, with a 52-week range between $34.26 and $54.93. UK regulators recently approved an updated COVID-19 vaccine by Pfizer, targeting the Omicron XBB.1.5 subvariant. The vaccine, sold under the brand Comirnaty, has been approved for individuals aged 6 months and above. <a href="https://www.benzinga.com/news/small-cap/23/09/34294328/non-disappearing-covid-creates-another-chapter-for-the-pharmaceutical-industry">Read more on Pfizer&#8217;s recent developments here</a>.
Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Tesla shares dropped by 1.78%, closing at $251.92. The stock&#8217;s intraday high and low were $255.39 and $245.06, respectively, with a 52-week range of $101.81 to $313.8. Tesla reported a 9.4% year-over-year increase in China sales for August. Additionally, Tesla&#8217;s Shanghai Gigafactory announced the production of its 2 millionth vehicle. <a href="https://www.benzinga.com/news/23/09/34280584/whats-going-on-with-tesla-stock-today">Discover more about Tesla&#8217;s stock trends here</a>.
AMC Entertainment Holdings, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) AMC shares plummeted by a staggering 36.80%, closing at $8.62. The stock&#8217;s intraday high and low were $11.7 and $8.43, respectively, with a 52-week range between $8.43 and $107.5. The significant drop came after AMC announced an agreement to sell up to 40 million shares through an equity distribution agreement with several Wall Street investment banks. This move followed two weeks of downward pressure on the stock after AMC implemented a 10-1 reverse stock split and converted its preferred equity shares into common stock. <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/09/34282648/amc-plunges-following-share-offering-agreement-why-bulls-need-stock-to-hold-this-level">Read more about AMC&#8217;s stock movement here</a>.
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Prepare for the day's trading <a href="Premarket Movers &amp; News">with top premarket movers and news</a> by Benzinga.
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AAPL

GameStop, Apple, Pfizer, Tesla, AMC: Why These 5 Stocks Are Trending Today

The concert film of&nbsp;Taylor Swift&#8216;s successful &#8216;Eras Tour&#8217; is set to hit theaters next month, despite ongoing Hollywood strikes, reported <a href="https://www.billboard.com/music/music-news/taylor-swift-eras-tour-movie-hollywood-strike-1235404250/">Billboard</a>.
Swift&#8217;s concert film, shot over three nights at SoFi Stadium in Los Angeles, will be released in every AMC Theatre (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) in the U.S., Mexico and Canada on Oct. 13.
Questions arose on how the film was able to be produced during&nbsp;the ongoing Hollywood strike by&nbsp;actors and writers, which has largely halted production on most U.S. film, TV, and streaming projects. However, the film obtained clearance under an interim agreement struck by SAG-AFTRA, covering&nbsp;non-AMPTP (Alliance of Motion Picture&nbsp;and Television Producers) productions that&nbsp;meet the same standards the&nbsp;unions are seeking in their&nbsp;negotiations with the studios. 
See Also:&nbsp;<a href="https://www.benzinga.com/news/23/08/34081890/microsoft-memo-leak-reveals-guidance-for-managers-connect-rewards-to-employee-impact-avoid-salary-fr?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Microsoft Memo Leak Reveals Guidance For Managers: Connect &#8216;Rewards&#8217; To Employee &#8216;Impact,&#8217; Avoid Salary F</a>
The interim agreement covers various terms&nbsp;from scheduled breaks to payment&nbsp;for fittings, wardrobe&nbsp;allowances, meals and more.
Every&nbsp;U.S. AMC Theatre location will&nbsp;run the 2 hours 45 minutes long &#8216;Eras&#8217; film at&nbsp;least four times per day&nbsp;on Thursday, Friday, Saturday and Sunday. Tickets are priced at $19.89 plus tax for adults&nbsp;and $13.13 for children and seniors&nbsp;plus tax.
Following&nbsp;the Ticketmaster <a href="https://www.benzinga.com/general/entertainment/22/11/29737196/look-what-you-made-me-do-taylor-swift-fans-hit-with-ticketmaster-outage-during-tour-pre-sal">fiascos during Eras&nbsp;Tour presale </a>tickets,&nbsp;AMC has reportedly&nbsp;upgraded its website and ticketing&nbsp;engines to handle a significant increase in ticket-buying traffic.
Read Next: Americans alone spend $100 billion on nicotine products per year. One startup has synthesized a medicine that eliminates the need to smoke in up to 95% of tested smokers. It's called Rexis Biotech and you can invest in it&nbsp;<a href="https://www.benzinga.com/alternative-investments/listing/rexis-biotech">before the product's public release.</a>
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Taylor Swift's 'Eras Tour' Movie Gears Up For Theatrical Release Amidst Hollywood Strike

The S&amp;P 500, Nasdaq, and Dow Jones Industrial Average closed lower on Thursday, reflecting broad-based selling pressure. The S&amp;P 500 closed at 4376.31, down by 1.35%, whereas Nasdaq last close stood at 13,463.97 losing 1.87% for the day. Dow Jones also faced a similar fate, closing at 34,099.42, shedding 1.08% from its previous close.
These are the top stocks that gained the attention of retail traders and investors throughout the day:
Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), dipped 4.82% to close at 13.81. The fintech firm released Q4 earnings showing <a href="https://www.benzinga.com/news/earnings/23/08/34033178/affirm-stock-jumps-on-q4-earnings-revenue-up-22-strong-guidance-adjusted-operating-income-positive-">a 22% increase</a> in revenue and provided strong guidance, boosting investor interest. 
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/08/33980010/shiba-inu-worth-800-can-make-you-a-millionaire-if-shib-reaches-this-level?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Shiba Inu Worth $800 Can Make You A Millionaire If SHIB Reaches This Level</a>
Hawaiian Electric Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HE#NYSE">HE</a>) slipped 2.06% to 11.86. The company recently came under scrutiny following a <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/08/34019203/jim-cramer-says-this-major-telecom-stock-is-horrendous">negative review</a> by a notable market analyst.
AMC Entertainment Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>) tumbled 26.68% to end the day at 14.37. The entertainment giant&#8217;s stock has been on a <a href="https://www.benzinga.com/news/23/08/34025390/whats-going-on-with-amc-entertainment-stock">wild ride</a> due to its popularity among retail investors and its recent Q2 earnings report.
Ulta Beauty, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ULTA#NASDAQ">ULTA</a>) closed down 3.48% at 422.74. Despite the drop, investors showed interest as the company&#8217;s Q2 earnings <a href="https://www.benzinga.com/news/earnings/23/08/34033509/beat-and-raise-ulta-beauty-stock-gets-a-boost-from-q2-earnings">beat expectations</a> and raised its annual forecast.
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), which closed at 230.04, down by 2.88%. The electric vehicle maker is <a href="https://www.benzinga.com/news/23/08/34017302/tesla-sheds-almost-200b-in-market-value-amid-recession-fears-and-internal-woes-one-fifth-of-its-peak">struggling with internal woes</a> and recession fears, resulting in nearly $200 billion being shaved off its market value.
Photo by Phongphan on Shutterstock
Read Next: <a href="https://www.benzinga.com/markets/equities/23/08/33997058/cathie-wood-mops-up-8-1m-worth-of-zoom-stock-after-q2-earnings-beat-sells-nvidia-shares-in-exces">Cathie Wood Mops Up $8.1M Worth Of Zoom Stock After Q2 Earnings Beat, Sells Nvidia Shares In Excess Of $1M</a>
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AFRM

ULTA

Affirm Holdings, Hawaiian Electric, AMC, Ulta Beauty, Tesla: Why These Five Stocks Are Drawing Investors' Attention Today

Entertainment stocks were down on Tuesday&nbsp;after the Writers Guild of America (WGA) labor union endorsed a strike on the eve of May 2, disrupting the <a href="https://www.benzinga.com/general/entertainment/23/05/32125907/writers-strike-looms-over-hollywood-average-residual-checks-can-barely-cover-an-in-n-out-bu" target="_blank">movie production industry</a>.&nbsp;
Shares of&nbsp;Netflix Inc.&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) fell 1.5% on the day, but other movie studio stocks experienced even greater declines. 
Walt Disney Co.&nbsp;(NYSE:&nbsp;<a href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) eased 1.9%,&nbsp;Warner Bros. Discovery&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/wbd#NASDAQ">WBD</a>) was 2% down and&nbsp;Paramount Global&nbsp;(NASDAQ:&nbsp;<a href="https://www.benzinga.com/stock/para#NASDAQ">PARA</a>)&nbsp;fell 2.4%.&nbsp;AMC Entertainment Holdings Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) was the underperformer, tumbling&nbsp;3.5%.&nbsp;
Chart: Entertainment Stocks Reaction To Hollywood&#39;s Writers Strike
<img alt="" src="https://www.benzinga.com/files/u1363475/nflx_2023-05-02_15-31-24_821b0.png" style="height:500px; width:701px" />
The decision was made by the WGA after six weeks of fruitless negotiations with the Alliance of Motion Picture and Television Producers, which includes Netflix, Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>), Apple Inc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>), Disney, Warner Bros. Discovery, Comcast Corporation&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmcsa#NASDAQ">CMCSA</a>) NBCUniversal, Paramount&nbsp;and Sony Group Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/sony#NYSE">SONY</a>).
About 11,500 TV and film writers are now demanding higher pay and more secure employment, arguing that the shift to streaming in Hollywood has created an unstable, gig-like economy that has disrupted the sector.
Studios say they&#39;re cutting costs because decades-old network and cable TV business models are no longer viable as more consumers migrate to streaming.
On Monday, the Alliance of Motion Picture and Television Producers (AMPTP)&nbsp;announced &quot;generous increases in compensation for writers as well as improvements in streaming residuals.&quot;
While the&nbsp;impacts of the strike will first be seen on talk shows, the effects on scripted programs and movies may take a while to be felt, but if the strike lasts long enough, future releases may be delayed.
The previous writers&#39; strike,&nbsp;lasted three months, from November 2007&nbsp;to February 2008.&nbsp;
During this period, studio stock prices declined significantly, with Walt Disney down 5%, Paramount down 10%, Comcast down 14%, and Warner Bros. down 16.6%.
Chart: Price Performance Of Movie Studio Stocks During The 2007&ndash;08 Writers Guild of America Strike
<img alt="" src="https://www.benzinga.com/files/u1363475/dis_2023-05-02_15-48-10_d8090.png" style="height:500px; width:100%" />
Read Next:&nbsp;<a href="https://www.benzinga.com/news/23/05/32121073/ready-for-takeoff-american-airlines-pilots-vote-to-strike-putting-summer-travels-on-shaky-turbulence" target="_blank">Ready For Takeoff? American Airlines Pilots Vote To Strike, Putting Summer Travels On Shaky Turbulence</a>
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AMZN

CMCSA

Sony Group Corporation American Depositary Shares

SONY

5 Stocks To Keep An Eye On As WGA Strike Could Bring Hollywood To A Halt: Why History Suggests Selling Movie Stocks During Strikes

Detroit startup TiiCKER Inc. announced a new partnership with Hollywood studio Lions Gate Entertainment Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lgf-a#NYSE">LGF-A</a>) (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lgf-b#NYSE">LGF-B</a>).
The goal is to attract the same group of young Reddit traders that supported AMC Entertainment Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) when it was on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/08/28535631/why-meme-stocks-amc-entertainment-and-gamestop-are-still-in-danger-of-declining-to-">brink of bankruptcy.</a>
What Happened? <a href="https://investors.lionsgate.com/news-and-events/press-releases/2022/11-14-2022-141539527">Lions Gate recently announced</a> it is partnering with TiiCKER to launch its Shareholder Red Carpet Rewards program, which is focused on small investors. Lions Gate investors wil have access to collectible certificates branded with classic films such as &quot;Dirty Dancing&quot; and &quot;Reservoir Dogs.&quot;
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/11/29575394/robinhood-traders-beat-the-s-p-500-is-the-retail-investor-back">Robinhood Traders Beat The S&amp;P 500: Is The Retail Investor Back?</a>
In addition to the collectibles, investors will receive perks such as a 50% discount to Lions Gate&#39;s Starz streaming service and a chance to win tickets to Lions Gates movie premiers.
Why It&#39;s Important: TiiCKER launched in 2020 and specializes in direct-to-shareholder marketing. The company helps public companies reward individual investors by providing discounts, deals and gifts to shareholders and incentivizing customers to become investors.
&quot;We&#39;re thrilled to debut our first partnership with a world-class Hollywood film &amp; television studio and their tens of millions of subscribers and fans in utilizing the TiiCKER platform to build shareholder loyalty and engagement,&quot; TiiCKER founder and CEO Jeff Lambert said in a statement.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/08/28535631/why-meme-stocks-amc-entertainment-and-gamestop-are-still-in-danger-of-declining-to-">Why Meme Stocks AMC Entertainment And GameStop Are Still &#39;In Danger Of Declining To $0&#39;</a> 
Investors can view a full list of the Shareholder Red Carpet Rewards program at TiiCKER.com/LGF or in the TiiCKER app, and Lions Gate shareholders can redeem their rewards by creating an account connected to their brokerage account and verifying their stock ownership.
Benzinga&#39;s Take: Lions Gate appears to be looking for some of the market magic AMC was able to tap into by appealing to small retail investors&#39; passion and nostalgia for classic movies. Reddit traders send AMC shares from under $2 to as high as $72.62 in 2021, allowing the company to raise much-needed cash by dumping hundreds of millions of shares into the market. AMC stock is now trading back down at around $7.50.
Next: <a href="https://www.benzinga.com/general/entertainment/22/11/29707521/amc-entertainment-stock-surges-higher-following-black-panther-sequel-release-whats-happenin">AMC Surges After Release Of &#39;Black Panther&#39; Sequel </a>

Startups

LGF-A

LGF-B

LGF.A

Does Lions Gate Want Some Of That AMC Magic? Studio Partners With Detroit Startup

AMC Entertainment Holdings Inc&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) mobile app has started accepting payments in Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) and Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SHIB</a>), and other cryptocurrencies for their movie tickets.&nbsp;
What Happened: In a recent tweet, AMC CEO Adam Aron announced that crypto payments are now accepted on the company&#39;s smartphone app.
Customers can use crypto payments provider&nbsp;BitPay, to spend DOGE and SHIB on tickets.
<blockquote class="twitter-tweet">Exactly as promised, the AMC mobile app for AMC&rsquo;s U.S. theatres now accepts online payments using Doge Coin, Shiba Inu, and other crypto currencies &mdash; thanks to Bitpay. Also Apple Pay, Google Pay and Paypal. To do so, you first will need to update to the latest version of our app. <a href="https://t.co/MMy7SIxYbl">pic.twitter.com/MMy7SIxYbl</a>
&mdash; Adam Aron (@CEOAdam) <a href="https://twitter.com/CEOAdam/status/1515021890431164424?ref_src=twsrc%5Etfw">April 15, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Also Read:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/22/04/26624590/the-amc-token-launches-on-april-30-but-does-it-have-anything-to-do-with-the-company" rel="noopener noreferrer" target="_blank">The AMC Token Launches On April 30, But Does It Have Anything To Do With The Company?</a>
AMC has already been accepting various crypto payments for ticket purchases. It implemented SHIB and DOGE on its website in March via BitPay.&nbsp;
<blockquote class="twitter-tweet">Your replies just might break the internet, given your clear enthusiasm and interest in cryptocurrency. As promised, the <a href="https://t.co/SPYfKWXcwi">https://t.co/SPYfKWXcwi</a> web site now accepts Dogecoin and Shiba Inu for online payments! A special shout out to <a href="https://twitter.com/BitPay?ref_src=twsrc%5Etfw">@BitPay</a> for helping us to make this happen. <a href="https://t.co/6bwPvQfEet">pic.twitter.com/6bwPvQfEet</a>
&mdash; Adam Aron (@CEOAdam) <a href="https://twitter.com/CEOAdam/status/1501962022409445385?ref_src=twsrc%5Etfw">March 10, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>The company started allowing customers to pay using <a href="https://cointelegraph.com/news/amc-theatres-debuts-online-bitcoin-payments-after-months-of-teasing">Bitcoin</a> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) way back in 2021.&nbsp;
What It Matters: According to reports, crypto payments on AMC&rsquo;s web client account for roughly 14 percent of all its movie ticket transactions.&nbsp;
AMC has also launched its NFT collectibles via the WAX blockchain, both in tandem with &quot;Spider-Man: No Way Home&quot; and also as a reward for AMC shareholders.&nbsp;
AMC released The Batman NFTs via Palm, a sidechain scaling solution for Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) as well.&nbsp;
At the time of writing, Dogecoin was down&nbsp;2.28% in the past 24 hours at a current price of $0.1444. It was up by 1.04% in the last seven days.&nbsp;
However, Shiba Inu was down less than a percentage point in the last 24 hours and was trading at $0.00002577. The wider crypto market was up about 0.34% over the past day. 
Also Read:&nbsp;<a href="https://www.benzinga.com/general/entertainment/22/04/26612598/amc-acquires-7-theaters-from-bow-tie-cinemas" rel="noopener noreferrer" target="_blank">AMC Acquires 7 Theaters From Bow Tie Cinemas</a>

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AMC's Mobile App Now Lets You Buy Tickets Using Dogecoin And Shiba Inu

A new cryptocurrency nearing an April 30 launch is gaining stream and mentions on social media thanks to its name being close to that of publicly traded AMC Entertainment Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>).
What Happened: A new cryptocurrency called <a href="https://theamctoken.com/">The AMC Token </a>(CRYPTO: TAMC) is <a href="https://finance.yahoo.com/news/apes-movement-community-announces-official-153500429.html">planning </a>a launch on April 30 and is using the AMC movie theater chain name to likely entice people to buy the coin.
AMC has not announced the coin and has&nbsp;not indicated any connection&nbsp;to the Ethereum-based&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) token. AMC CEO<a href="https://www.benzinga.com/news/21/06/21396062/5-things-you-might-not-know-about-amc-ceo-adam-aron"> Adam Aron</a>, who is pretty transparent with investors, has also not mentioned the token on his Twitter or follow the official account of The AMC Token.
Instead, developers of the coin say it is&nbsp;&ldquo;inspired by GME and AMC movement,&rdquo; and using the name of the movie theater chain.
The<a href="https://twitter.com/theamctoken"> AMC Token</a> is offering a fair launch, with price discovery set by demand and supply. The token will have no pre-sale or whitelist before the fair launch is completed.
The token is also called The Apes Movement Community Token in the press release that went out across several major financial media sites as a Globe Newswire release.
&ldquo;TAMC is proud to be the first token created to generate wealth for the holders by the social/meme coin status and expose the malpractices done in the financial systems nowadays for the benefit of a few,&rdquo; the release reads.
TAMC will have a max supply of 513,960,784 tokens.
Related Link: <a href="https://www.benzinga.com/news/22/04/26621163/phony-press-release-about-tesla-m-a-causes-penny-stock-to-surge-200">Phony Press Release About Tesla M&amp;A Causes Penny Stock To Surge 200%&nbsp;</a>
Why It&rsquo;s Important: AMC Entertainment was one of the most popular stocks of 2021 and attracted a wide base of followers and community members who often referred to themselves as apes.
The AMC Token is attempting to capitalize on the community by misleading that it is associated with the movie theater giant.
The coin makes promises of going to the moon and has<a href="https://coincodex.com/article/14050/the-amc-token-the-apes-movement-community-token-the-next-1000x-gem/">&nbsp;sponsored posts</a> on other websites promising&nbsp;10x, 100x and 1000x returns from the coin.
The official Twitter <a href="https://twitter.com/theamctoken/status/1514095695824924679">account </a>of The AMC Token dates back to November 2021 and previously shared and retweeted on other tokens before switching gears to The AMC Token posts in February 2022.&nbsp;
Many tokens and coins have tried to piggyback off of other&#39;s success by launching tokens that often end up being rugpulls where the founders of the token make the money and the rug is pulled out on the new owners. Some tokens allow users to buy and then never to sell their coins.
Over the last year, the cryptocurrency market has seen a Squid Game coin <a href="https://www.benzinga.com/markets/cryptocurrency/21/11/23879776/squid-game-crypto-price-shoots-up-1000-even-as-binance-investigates-rug-pull">based </a>on the popular Netflix Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) series and a Will Smith slap <a href="https://www.benzinga.com/markets/cryptocurrency/22/03/26338517/will-smith-slap-inspires-new-token-and-it-rallied-10-000-after-oscars-assault">inspired </a>coin Will Smith Inu. These tokens often shoot up in value only to fall back down.
Another token called Accept Crypto, <a href="https://www.benzinga.com/markets/cryptocurrency/22/03/26365071/dogecoin-influencer-matt-wallaces-exit-scam-costs-investors-600k-ethereum">launched </a>by Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) influencer Matt Wallace, attempted to capitalize on the strong Dogecoin community and the rallying cry for retailers to accept Dogecoin as payment. The token shot up in value only to come crashing down.
Investors should be cautious about getting into new tokens that do not have a proven track record, and risk only what they are willing to lose.
Benzinga reached out to AMC for comment on the token.
Photo: Courtesy of&nbsp;<a href="https://www.flickr.com/photos/scelera/" id="yui_3_16_0_1_1649863427813_244758" title="Go to samantha celera's photostream">samantha celera</a>&nbsp;and&nbsp;<a href="https://www.flickr.com/photos/136770128@N07/" id="yui_3_16_0_1_1649863427813_301866" title="Go to Richard Patterson's photostream">Richard Patterson</a>&nbsp;on Flickr

The AMC Token Launches On April 30, But Does It Have Anything To Do With The Company?

The wild tale of a high school chemistry teacher that becomes a meth manufacturer captured audiences and led to strong ratings for AMC Networks Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amcx#NASDAQ">AMCX</a>).
A prequel series to &ldquo;Breaking Bad&rdquo; has struggled in recent seasons:&nbsp;Could the return of the two stars from &ldquo;Breaking Bad&rdquo; provide a boost in the final season?
What Happened: Bryan Cranston and Aaron Paul who portrayed Walter White and Jesse Pinkman, respectively, in &ldquo;Breaking Bad&rdquo; are <a href="https://variety.com/2022/tv/news/bryan-cranston-aaron-paul-better-call-saul-1235229217/">set to return </a>with appearances in the final and sixth season of &ldquo;Better Call Saul.&rdquo;
The prequel show stars Bob Odenkirk as a lawyer who eventually represents White.
&ldquo;I personally feel that the two shows &mdash;&nbsp;&lsquo;Breaking Bad&rsquo; and &lsquo;Better Call Saul&rsquo; &mdash;&nbsp;are entwined even more than ever in the final season. And it&rsquo;s gonna make you want to watch &lsquo;Breaking Bad&rsquo; again,&rdquo; Odenkirk&nbsp;told Variety.
&ldquo;Better Call Saul&rdquo; co-creator Peter Gould confirmed officially that Cranston and Paul will be featured in the final season.
&ldquo;I don&rsquo;t want to spoil things for the audience, but I will say the first question we had when we started the show was, &lsquo;Are we gonna see Walt and Jesse on the show?&rsquo; Instead of evading, I&rsquo;ll just say yeah,&rdquo; Gould told an audience at a Variety event.
<blockquote class="twitter-tweet">They&#39;re coming back. <a href="https://twitter.com/hashtag/BetterCallSaul?src=hash&amp;ref_src=twsrc%5Etfw">#BetterCallSaul</a> <a href="https://t.co/IXDq6KarcN">pic.twitter.com/IXDq6KarcN</a>
&mdash; Better Call Saul (@BetterCallSaul) <a href="https://twitter.com/BetterCallSaul/status/1513004792049815552?ref_src=twsrc%5Etfw">April 10, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>&nbsp;
The sixth season of &ldquo;Better Call Saul&rdquo; <a href="https://deadline.com/2022/04/bryan-cranston-aaron-paul-confirmed-to-reprise-breaking-bad-better-call-saul-1234998709/">premieres </a>on April 18 with the 13 episodes that will be split into two parts. The second part of the final season will premiere on July 11. Episodes will air on AMC, AMC+ and also stream on Netflix Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) in several international territories.
Related Link: <a href="https://www.benzinga.com/general/entertainment/22/03/26081184/amc-keeps-on-raising-the-dead-new-the-walking-dead-spinoff-continues-networks-successful-fr">AMC Keeps On Raising The Dead, New &#39;The Walking Dead&#39; Spinoff Continues Network&#39;s Successful Franchise&nbsp;</a>
Why It&rsquo;s Important: AMC Networks had two of the highest-rated cable shows of all time with &ldquo;The Walking Dead&rdquo; and &ldquo;Breaking Bad.&rdquo; AMC has seen success with &ldquo;Better Call Saul&rdquo; and also has greenlit several spinoffs to &ldquo;The Walking Dead,&rdquo; which is ending after its current 11th season.
&ldquo;Breaking Bad&rdquo; saw its first few seasons turn in around one million viewers per episode. A streaming deal with Netflix helped boost awareness of the show and led to stronger viewership in later seasons.
The fifth and final season of &ldquo;Breaking Bad&rdquo; <a href="https://ew.com/article/2013/09/30/breaking-bad-series-finale-ratings/">saw </a>viewership hit the five to six million per episode range, a sharp increase from the 1.9 million that tuned in for the season four finale.
The series finale of &ldquo;Breaking Bad&rdquo; had a huge 10.3 million viewers and a 5.2 rating among adults aged 18 to 49. AMC charged $400,000 for each 30-second commercial during the finale, which was on par with network shows from Walt Disney Co.&rsquo;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) ABC and Fox Corp.&#39;s&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fox#NASDAQ">FOX</a>)(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/foxa#NASDAQ">FOXA</a>) Fox channel.
The fifth season of &ldquo;Better Call Saul&rdquo; <a href="https://tvseriesfinale.com/tv-show/better-call-saul-season-five-ratings/">averaged </a>1.37 million viewers with the premiere and finale both seeing around 1.6 million viewers. Viewership has dropped as the show has continued on AMC.
The 2015 <a href="https://www.hollywoodreporter.com/tv/tv-news/tv-ratings-better-call-saul-771750/">premiere </a>of &ldquo;Better Call Saul&rdquo; set a cable record with 6.9 million viewers, the most for the premiere of an original series.
The return of the two main characters from the original series could provide a much-needed boost to ratings for AMC and could lead to the network being able to command more in advertising revenue.
Photo: AMC &quot;Better Call Saul&quot; Twitter

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AMCX

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Walter And Jesse Are Back: Could A 'Breaking Bad' Reunion Boost AMC Ratings?

AMC Entertainment Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) is expanding its Northeast presence through the acquisition of seven theaters from the Bow Tie Cinemas chain. The financial terms of the transaction were not disclosed.
What Happened: AMC will now own and operate five Bow Tie venues in Connecticut, one in Saratoga Springs, New York, and one in Annapolis, Maryland. The acquisition brings a combined total of 66 new screens under the AMC banner.
Bow Tie traces its roots back to 1900 with a series of nickelodeons. The company, which is now in its fourth generation of family ownership, will continue to operate&nbsp;six theaters in five states.
See Also: <a href="https://www.benzinga.com/general/entertainment/22/04/26603536/comedian-gilbert-gottfried-dies-at-67">Comedian Gilbert Gottfried Dies At 67</a>
Why It&#39;s Important: This is the latest expansion for AMC, which signed lease agreements last December for the former Pacific and Arclight Cinemas in the Chicago and Los Angeles markets.
&ldquo;Our theater acquisition strategy makes AMC a better and stronger company as we move forward on our glidepath to recovery,&rdquo; said AMC CEO <a href="https://www.benzinga.com/news/21/06/21396062/5-things-you-might-not-know-about-amc-ceo-adam-aron">Adam Aron</a>. &ldquo;Acquiring these locations is especially notable for our expansion in Connecticut, where we are more than doubling our presence. We are encouraged to bring the magic of AMC to more and more theatres across the country, given our mid-2021 acquisitions of AMC The Grove 14 and AMC Americana at Brand 18, both in the Los Angeles market, continue to rank among the 30 highest grossing movie theatres in the entire United States since joining up with AMC.&rdquo;
AMC Price Action: AMC opened for trading on Wednesday at $17.42 according to <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>; its 52-week range is $8.90 to $72.62.
Photo: Valerie Rene&eacute; / Flickr Creative Commons

AMC Acquires 7 Theaters From Bow Tie Cinemas

Last week, movie theater chain AMC Entertainment Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) purchased a major stake in Hycroft Mining Holding Corp&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hymc#NASDAQ">HYMC</a>).&nbsp;
AMC spent $27.9 million in cash for the deal and received roughly 23.4 million shares in the company.&nbsp;
Now, two weeks following&nbsp;the deal, AMC&rsquo;s Hycroft mining company has raised a total of $195 million.&nbsp;
One of the world&rsquo;s leading gold and silver investors, Eric Sprott has taken a large stake in Hycroft. Together, AMC and Sprott invested $56 million in Hycroft.&nbsp;
On Friday, AMC CEO Adam Aron announced in a tweet that&nbsp;$139 million had been raised in additional equity. On the same day, the stock soared almost 22% after hours when the announcement was made.
<blockquote class="twitter-tweet">I was highly confident that AMC&rsquo;s skills could quickly &ldquo;right the ship&rdquo; at Hycroft (HYMC). We just did! Eric Sprott and AMC invested $56 million. Now we raised a breathtaking $139 million more cash equity! $195 million in total! In only two weeks! Calm seas, smooth sailing ahead. <a href="https://t.co/5wsbi1oqHH">pic.twitter.com/5wsbi1oqHH</a>
&mdash; Adam Aron (@CEOAdam) <a href="https://twitter.com/CEOAdam/status/1507501897963302915?ref_src=twsrc%5Etfw">March 25, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Replying to Aron&rsquo;s tweet, a follower @NorcalSlider said, &ldquo;Holy sh*t, that&rsquo;s huge&rdquo;.&nbsp;
Aron quickly responded to Norcal&rsquo;s tweet talking about the skepticism about&nbsp;AMC&rsquo;s investment in HYMC.&nbsp;
<blockquote class="twitter-tweet">You know, as the sitting CEO of an NYSE-listed company, I could never say publicly what is in NorCal&rsquo;s tweet, not in a million years. But, hey, I can&rsquo;t stop you from saying it. <a href="https://twitter.com/hashtag/HaHa?src=hash&amp;ref_src=twsrc%5Etfw">#HaHa</a>. What I can say to those who doubted AMC&rsquo;s investment in HYMC&hellip;. <a href="https://twitter.com/hashtag/CHOKEonTHAT?src=hash&amp;ref_src=twsrc%5Etfw">#CHOKEonTHAT</a> <a href="https://t.co/AavT6nvFLL">https://t.co/AavT6nvFLL</a>
&mdash; Adam Aron (@CEOAdam) <a href="https://twitter.com/CEOAdam/status/1507554120802000899?ref_src=twsrc%5Etfw">March 26, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>Photo:&nbsp;<a href="https://www.flickr.com/photos/pasa/" id="yui_3_16_0_1_1648308913464_17525" title="Go to Paul Sableman's photostream">Paul Sableman</a>&nbsp;on flickr

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AMC's Hycroft Raises $195M In Just Two Weeks And Adam Aron Can't Stop Boasting About It

Initial results are in for a poll issued by AMC Entertainment Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) CEO Adam Aron on <a href="https://twitter.com/CEOAdam/status/1454023849528410115">Twitter</a> on Friday, asking people if the theater chain should add Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">SHIB</a>) coin to the list of cryptocurrencies the company will soon accept as payment.
<blockquote class="twitter-tweet">TWITTER POLL #2: As you know, you can now purchase AMC gift cards using cryptocurrency, and our IT group is writing code so that soon we can accept online payments in Bitcoin, Ethereum, Litecoin and Dogecoin among others. Should we strive to take Shiba Inu too?
&mdash; Adam Aron (@CEOAdam) <a href="https://twitter.com/CEOAdam/status/1454023849528410115?ref_src=twsrc%5Etfw">October 29, 2021</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>As of Sunday morning, 86.8&nbsp;percent were in favor of AMC Theatres&nbsp;accepting SHIB.
Aron posted the tweet after the crypto coin&#39;s price surged due to crypto whales and retail traders. &nbsp;
On Friday, It outperformed Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) to become the world&#39;s ninth-largest cryptocurrency by market capitalization.
The Shiba Inu ecosystem has expanded to include <a href="https://cointelegraph.com/news/shiba-inu-fetches-a-new-ath-3-reasons-why-shib-keeps-jumping-higher">ShibaSwap</a>, a decentralized exchange, or DEX.&nbsp;The total value locked, or TVL, on ShibaSwap amounts to $537.92 million based on data from <a href="https://defillama.com/protocol/shibaswap">Defi Llama</a>.&nbsp;
The entertainment firm is already <a href="https://www.benzinga.com/markets/cryptocurrency/21/10/23253609/amc-begins-accepting-dogecoin-for-digital-gift-cards">preparing</a> itself for consumers to pay for movie tickets in <a href="http://www.benzinga.com/markets/cryptocurrency/21/08/22414041/amc-to-accept-bitcoin-as-payment-for-tickets-concessions-by-end-of-year">Bitcoin</a> (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), Litecoin CRYPTO: LTC), and Dogecoin.
Last week, the company announced that it is <a href="https://www.benzinga.com/markets/cryptocurrency/21/10/23479202/amc-mulls-creating-its-own-cryptocurrency-getting-hyperactive-in-the-space">exploring</a> issuing its own cryptocurrency in the future. &quot;There are a lot of reasons why AMC could be a successful issuer of cryptocurrency as well as a redeemer of cryptocurrency,&quot; Aron said during an interview.
AMC has already enabled its customer to purchase digital gift cards via Dogecoin and other cryptocurrencies using the BitPay wallet.
In Sept, Aron <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/22964712/amc-will-also-accept-ethereum-litecoin-and-bitcoin-cash-alongside-bitcoin-ceo">announced</a> that the movie theater chain would also accept several other cryptocurrencies for payment.
AMC Entertainment&#39;s year-to-date gains stand at an impressive 1828.3% as the company continues to see high interest from retail investors.
Related Link:&nbsp;<a href="https://www.benzinga.com/news/21/10/23654388/amc-entertainment-stock-breaks-through-this-pattern-is-it-a-trap">AMC Entertainment Stock Breaks Through This Pattern: Is It A Trap?</a>

New Poll Results: Should AMC Theatres Support Shiba Inu Payment Option For Ticket Purchases?

Dogecoin&#39;s&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) price is headed much higher, according to Yaron Schwarcz, a&nbsp;Bitcoin&nbsp;(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) maximalist who is the co-founder&nbsp;of robotics firm Skyline Robotics. The comments follow a recent analysis <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/23159559/could-dogecoin-skyrocket-in-october">suggesting</a> that Dogecoin could skyrocket next month.
What Happened:&nbsp;In an exclusive comment shared with Benzinga, Schwarcz expects Dogecoin to hit $0.40&nbsp;by the end-of-year due to a bullish run-up resulting from the September bear market. Still, he believes that before reaching this price the coin could drop to $0.17&nbsp;before this next run.
See Also:&nbsp;<a href="https://www.benzinga.com/money/is-dogecoin-a-good-investment/">IS DOGECOIN A GOOD INVESTMENT?</a>
Schwarcz sees &quot;a convergence of positive movement&quot; spurred by the <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/23139077/why-buying-tacos-and-pizzas-at-major-chains-with-dogecoin-could-soon-be-a-reality" target="_blank">partnership</a>&nbsp;between BitPay Inc. and Verifone Inc. that will allow crypto payments in fast-food restaurants and stores, as well as AMC Entertainment Holdings Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) chairman and CEO Adam Aron&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/21/09/23039000/bring-your-doge-to-the-movies-amc-ceo-runs-poll-on-whether-theater-chain-should-accept-the" target="_blank">suggesting</a>&nbsp;Dogecoin support. Schwarcz concluded&nbsp;&quot;physical world usability&quot; will increase Dogecoin&#39;s price. The comments also follow&nbsp;recent <a href="https://www.benzinga.com/markets/cryptocurrency/21/09/23068251/dogecoin-adoption-growing-faster-than-ever-to-the-moon-soon">reports</a> that Dogecoin adoption is climbing much faster than ever.
DOGE Price Action: According to CoinMarketCap <a href="https://coinmarketcap.com/currencies/dogecoin/">data</a>, as of press time Thursday Dogecoin is trading at $0.2027 after gaining about 0.9% of value over the last 24 hours.
Photo by <a href="https://unsplash.com/@newleonin?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Patr&iacute;cia Hellinger</a> on <a href="https://unsplash.com/s/photos/shiba-inu?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>

Dogecoin Headed For 40 Cents, But Not Yet: Expert Weighs In

AMC Entertainment Holdings&nbsp;Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>), Walt&nbsp;Disney Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dis#NYSE">DIS</a>) and Vinco Ventures&nbsp;Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bbig#NASDAQ">BBIG</a>) are all trading higher in strong uptrends. An uptrend occurs when a stock consistently makes a series of higher highs and higher lows on the chart.
The higher highs indicate the bulls are in control while the intermittent higher lows indicate consolidation periods. Traders can use moving averages to help identify an uptrend with rising lower frame moving averages (such as the eight-day or 21-day exponential moving averages) indicating the stock is in a steep shorter-term uptrend and rising longer-term moving averages (such as the 200-day simple moving average) indicating a long-term uptrend.
A stock often signals when the higher high is in by printing a reversal <a href="https://pro.benzinga.com/blog/how-to-read-candlestick-charts/">candlestick</a>&nbsp;such as a doji, bearish engulfing or hanging man candlestick. Likewise, the higher low could be signaled when a doji, morning star or hammer candlestick is printed. Moreover, the higher highs and higher lows often take place at resistance and support levels.
In an uptrend the &quot;trend is your friend&quot;&nbsp;until it&rsquo;s not and in an uptrend there are ways for both bullish and bearish traders to participate in the stock:
<ul>
<li>Bullish traders who are already holding a position in a stock can feel confident the uptrend will continue unless the stock makes a lower low. Traders looking to take a position in a stock trading in an uptrend can enter usually find the safest entry on the higher low.</li>
<li>Bearish traders can enter the trade on the higher high and exit on the pullback. These traders can also enter when the uptrend breaks and the stock makes a lower low indicating a reversal into a downtrend may be in the cards.</li>
</ul>
See Also:&nbsp;<a href="https://www.benzinga.com/news/21/09/22971802/remakes-planned-for-the-bodyguard-disneys-flight-of-the-navigator">Remakes Planned For &#39;The Bodyguard,&#39; Disney&#39;s &#39;Flight Of The Navigator&#39;&nbsp;</a>
AMC&#39;s Uptrend:
<img alt="amc_sept._16.png" src="https://www.benzinga.com/files/u278075/amc_sept._16.png" style="height:422px; width:750px" />
Disney&#39;s Uptrend:
<img alt="dis_sept._16.png" src="https://www.benzinga.com/files/u278075/dis_sept._16.png" style="height:422px; width:750px" />
Vinco Venture&#39;s Uptrend:<img alt="bbig_sept._16.png" src="https://www.benzinga.com/files/u278075/bbig_sept._16.png" style="height:422px; width:750px" />
Image by&nbsp;<a href="https://pixabay.com/users/mediamodifier-1567646/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=3078543">Mediamodifier</a>&nbsp;from&nbsp;<a href="https://pixabay.com/?utm_source=link-attribution&amp;utm_medium=referral&amp;utm_campaign=image&amp;utm_content=3078543">Pixabay</a>

Long Ideas

Short Ideas

Technicals

BBIG

How To Trade The Uptrends On AMC Entertainment, Disney, Vinco Ventures Stock

An observation we&#39;ve made in previous posts (e.g.,&nbsp;AMC: Return Of The Meme Stock) was that the resurgence in meme stocks last spring came as Bitcoin sagged. That made sense, as the parabolic rally in Bitcoin and other cryptocurrencies earlier in the year had siphoned some of the speculative fervor out of meme stocks. So it may not have been entirely coincidental that AMC Entertainment Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>) closed up nearly 9% on the same day Bitcoin (CRYPTO: BTC) dropped by double digits. But the proximate cause for the rally was most likely the news that weekend box office numbers for America&#39;s largest movie chain finally beat a pre-pandemic record.
<iframe height="641" src="https://seekingalpha.com/embed/16531" width="550"></iframe>
A Top Name In April, And Again In August
AMC first hit our daily top ten names in April at $9.36 per share. It hit our top names list again in August again in August at $33.07.
<img alt="" src="https://static.seekingalpha.com/uploads/2021/8/12/131469-1628826253100171.png" />
Screen capture via&nbsp;<a href="https://portfolioarmor.com/" rel="nofollow">Portfolio Armor</a>&nbsp;on 8/12/2021.
Since August 12th, AMC was up 44.63% as of Tuesday&#39;s close.
<a href="https://static.seekingalpha.com/uploads/2021/9/8/131469-16310868803628423_origin.png" rel="lightbox"><img alt="" src="https://static.seekingalpha.com/uploads/2021/9/8/131469-16310868803628423.png" /></a>
Our time horizon for our top names is six months, so our subscribers who bought AMC in August are likely still long the stock. If you own it, we suggest you consider hedging it, in the event it pulls back significantly. You can use our website or our&nbsp;<a href="https://apps.apple.com/us/app/portfolio-armor/id394951144" rel="nofollow">iPhone app</a>&nbsp;to scan for optimal hedges.
Bitcoin Stumbles&nbsp;
As Bitcoin prices topped $52,000 over the weekend, we anticipated taking a victory lap over the Riot Blockchain, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/riot#NASDAQ">RIOT</a>) trade we wrote about at the end of July (A Hedged Bet On A Bitcoin Breakout). Instead, Bitcoin tanked on Tuesday, taking the Bitcoin miner down with it. As of Tuesday&#39;s close, RIOT was down 2.55% since our article.&nbsp;
<img alt="Chart" src="https://static.seekingalpha.com/uploads/2021/9/8/saupload_e372358b1f70847fd2496378dc415af3.png" style="height:366px; width:635px" />
&nbsp;
So why did Bitcoin drop? The short answer is no one knows. Maybe the most likely reason is that crypto traders bought the rumor of El Salvador President Nayib Bukele&#39;s promise to make Bitcoin legal tender there, and sold the news of its implementation. Despite some hiccups with Bitcoin wallets in El Salvador, the implementation went smoothly enough that Bitcoin Magazine&#39;s Aaron van Wirdum was able to buy his McDonald&#39;s breakfast in San Salvador with Bitcoin.&nbsp;
<iframe height="672" src="https://seekingalpha.com/embed/16529" width="550"></iframe>
So Much For The Republic of The Savior
As we wrote when President Bukele announced his plans to make Bitcoin legal tender in June (The Republic Of The Savior), El Salvador held some downside risks for the crypto currency:
<blockquote>Before Bitcoin maximalists imagine the rest of the world following El Salvador&#39;s example, they ought to acknowledge that El Salvador has a dollarized economy now. Without its own currency, it has nothing to lose by accepting Bitcoin; in contrast countries with their own currencies would be giving up the&nbsp;seigniorage&nbsp;that comes with it. The other thing they ought to acknowledge is that, for better or worse, El Salvador is now the poster boy for Bitcoin, and the lofty claims made about it. For a small taste of those claims, see the pinned tweet by MicroStrategy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mstr#NASDAQ">MSTR</a>) Michael Saylor below.
<img alt="" src="https://static.seekingalpha.com/uploads/2021/9/8/131469-16310946140627315.jpg" style="height:264px; width:564px" />
For an acknowledgement that El Salvador is now a poster boy for Bitcoin, see Balaji Srinivasan&#39;s tweet below,
<img alt="" src="https://static.seekingalpha.com/uploads/2021/9/8/131469-16310946318446753.jpg" style="height:434px; width:559px" />
Or Joe Wiesenthal&#39;s,
<img alt="" src="https://static.seekingalpha.com/uploads/2021/9/8/131469-16310947104875886.jpg" style="height:266px; width:563px" />
The challenge for Bitcoin enthusiasts is that El Salvador is, well, El Salvador. Salvadoran immigrants have struggled in the U.S., as Jason DeParle noted in a dispiriting New York Times&nbsp;article&nbsp;(&quot;Struggling to Rise in Suburbs Where Failing Means Fitting In&quot;). One might hope El Salvador&#39;s embrace of Bitcoin will attract talented immigrants to El Salvador, but that hope should be tempered by knowledge that El Salvador has&nbsp;the highest homicide rate&nbsp;in the world.
</blockquote>
The chances are, the next rally in Bitcoin will be sparked by something other than positive news out of El Salvador.&nbsp;

Fintech news covering the emerging Financial Technology services sector

Fintech

MSTR

RIOT

AMC Pops, Bitcoin Drops: Why We're Seeing Another Meme Stock-Crypto Reversion And What Comes Next

Cryptocurrency is having a material impact on traditional finance, stocks, and markets more than ever. It is arguably no longer an isolated ecosystem, divorced from anything other than indeterminable mania and depressions.
Supporting this supposition are the developments in the crypto space just this year; several crypto-backed ETFs became tradable in North America, Bitcoin appeared on the balance sheet of several Fortune 500 companies, and crypto-exchanges have achieved public listings. Speaking of the devil, the Nasdaq-listed Coinbase Global Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/coin#NASDAQ">COIN</a>) has reported its earnings today, comfortably beating its earnings expectations.
Fittingly, I plan to mark the occasion by crafting one of my periodical recaps of the crypto space.
<h3>Coinbase beats earning expectations</h3>
<img alt="coinbase.png" src="https://www.benzinga.com/files/u339508/coinbase.png" style="height:324px; width:624px" />
The largest crypto exchange in the US, Coinbase, has reported Q2 earnings above expectations (total revenue of US$2.2 billion vs US$1.85 billion expected). Coinbase&rsquo;s revenue growth is impressive considering that since the Company&rsquo;s last earnings report, Bitcoin and its ilk have taken a nosedive in price.
Interestingly, Coinbase was able to increase its monthly user base and the value of processed transactions. All the while, the value of the crypto assets that were being traded declined by approximately 20%. In reward, Coinbase stock climbed 0.82% in afterhours trading, after it released its earnings report (however, the stock dropped 3.85% over Tuesday trading).
Further proving my point of Cryptos infiltration of mainstream finance, Coinbase reported that more than 9,000 financial institutions are included in their client base.
<h3>AMC will begin accepting Bitcoin</h3>
AMC Entertainment Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amc#NYSE">AMC</a>)&nbsp;has announced, alongside its earnings report, that it will begin accepting Bitcoin (CRYPTO: BTC) by the end of the year. I suspect the announcement was for two important reasons. The first, to help distract from the bad earnings report. Admittedly, the theatre lost less than expected, but the report was still less than desirable (US$0.71 vs US$0.94 expected loss per share). The second reason is to appeal to its meme investor base (like GameStop&rsquo;s foray into NFTs). However, unlike GameStop&rsquo;s foray into NFTs, AMC move into Bitcoin is far more practical and has the potential to pay off in the long term (predictions of Bitcoin reaching 100K are rearing their heads again). As of writing, Bitcoin is comfortably above 45K, after spending the beginning of August sub-40K.
Lawmakers rejected an attempt to amend tax rules targeting crypto
The amendment sought to clarify language regarding who would have to abide by the new reporting requirements.
As it stands, Crypto advocates believe the tax rules are too broad and would lead to some entities being unable to comply because they are not privy to the information that is required to be reported. Ultimately, the US cryptocurrency space will be profoundly negatively impacted. This is an opinion shared by Coinbase CEO Brian Armstrong and Kraken CEO Jesse Powell, who believe cryptocurrency firms are likely to shift overseas in response.
<h3>Breaking News: Poly Network Hacked!</h3>
&nbsp;
<img alt="poly.png" src="https://www.benzinga.com/files/u339508/poly.png" style="height:457px; width:624px" />
Approximately US$600 million worth of Crypto has been hijacked from the Defi platform, Poly Network. The hackers siphoned off Ethereum, Shiba Inu, Wrapped Bitcoin and USD coin, among others.
See also:&nbsp;<a href="https://www.benzinga.com/money/coinbase-review/">Coinbase Review</a>
While the coins are likely irretrievable, some measures can be taken to ensure that the hackers don&rsquo;t personally profit from the attack. Poly has called on the miners to blacklist funds coming from the hacker&rsquo;s address. I&rsquo;m unsure if such an action would set a precedent. At any rate, decentralised projects have been known to roll back transactions made during hacks. In this instance, the founders of Tether, a decentralised coin, has already stepped in and frozen US$33 million worth of coins associated with the hacker&rsquo;s addresses.
%3Clink%20rel%3D%22canonical%22%20%3Ca%20%20data-cke-saved-href%3D%22https%3A%2F%2Fblackbullmarkets.com%2Fen%2Fmarket-reviews%2Fweek-in-crypto-coinbase-amc-and-poly-network-hack%2F%22%20href%3D%22https%3A%2F%2Fblackbullmarkets.com%2Fen%2Fmarket-reviews%2Fweek-in-crypto-coinbase-amc-and-poly-network-hack%2F%22%20title%3D%22https%3A%2F%2Fblackbullmarkets.com%2Fen%2Fmarket-reviews%2Fweek-in-crypto-coinbase-amc-and-poly-network-hack%2F%22%3Ehttps://blackbullmarkets.com/en/market-reviews/week-in-crypto-coinbase-amc-and-poly-network-hack/ href=&quot;link&quot; /&gt;

COIN

Week In Crypto Coinbase, AMC, & Poly Network Hack

In a report released today, Alicia Reese from Wedbush maintained a Hold rating on AMC Entertainment (AMC – Research Report), with a price target of...

Wedbush Remains a Hold on AMC Entertainment (AMC)

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These stocks that are vulnerable to rate cuts won&rsquo;t be saved by a potential interest rate cut. Readers can take that statement one of two ways. It&rsquo;s either a reflection that rate cuts are now expected to occur later than previously expected, and that the firms will run out of time. Or, it implies that even if rate cuts are quickly enacted that it won&rsquo;t be enough to save these firms.&nbsp;



I&rsquo;d suggest that in either case the firms discussed are not worthy of investment. Each stock has suffered in the face of continued quantitative tightening. However, each firm also has a unique variety of other factors which conspire to weaken their respective stocks.



Investors should not be lured in by suggestions of outsized gains on implied rebounds. Instead avoid these stocks that are vulnerable to rate cuts at all costs.



<h2>AMC (AMC)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/amc1600-4-300x169.png" alt="AMC Entertainment sell off continues as stock sees tenth straight losing day, as the markets continued to see volatility following Federal Reserve Chairman's speech."><div>Source: TY Lim / Shutterstock.com</div></div>AMC (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>) was one of the primary names during the Reddit meme stock era. That era is essentially over and what remains is the naked truth of its business.



AMC operates movie theaters that are struggling to find their niche in the new digital era. people simply are not going out to the movies as often as they did in the past. The long-term trends continue to point to the continued emergence of other modes of watching movies.



The problem won&rsquo;t get any better for AMC in the immediate future. AMC posted $4.81 billion in sales during all of 2023. That figure is <a href="https://stockanalysis.com/stocks/amc/forecast/">expected to shrink</a> to $4.55 billion in 2024. Bullish investors could argue that AMC&rsquo;s EPS losses are narrowing over the same period in order to make an argument in favor of investing. However, AMC is expected to continue producing losses through at least 2026. It&rsquo;s all part and parcel of a larger narrative in which the movie theater industry continues to contract. That has been and will continue to be the primary reason to avoid AMC which is the largest theater chain in the U.S.



<h2>Mullen Automotive (MULN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/01/muln1600-2-300x169.png" alt="In this photo illustration, the Mullen Technologies (MULN) logo is displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>Mullen Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/muln-stock-quote/">MULN</a>) continues to use naive investors to enrich its ownership. Those investors have become blind to the fact that the company has enacted three reverse stock splits over the last 12 months. They somehow continue to believe that the company will emerge as a legitimate EV truck and van manufacturer in the future.



Mullen shares themselves currently trade for approximately $4. However, that is simply a function of the arithmetic that governs stock splits. Most of the time investors understand that reverse stock splits are a desperate hail Mary to increase the value of share prices. The common result is that firms enacting reverse stock splits are usually punished. Yet, that doesn&rsquo;t seem to be the case with Mullen Automotive which should trade for mere pennies by now.



Several of my colleagues <a href="https://investorplace.com/2024/03/red-alert-3-stocks-you-should-never-ever-own/">have noted</a> that the company continues to enrich its ownership. This is happening despite the horrendous underlying business. Do not reward Mullen Automotive&rsquo;s ownership with your capital. It will not be utilized to enact a turnaround. Instead it will line the pockets of a CEO steering the company into oblivion.&nbsp;



<h2>Vornado Realty (VNO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/office-1600-300x169.png" alt="Group of colleagues discuss something in an office conference room. commercial real estate"><div>Source: GaudiLab / Shutterstock</div></div>Vornado Realty (NYSE:<a href="https://investorplace.com/stock-quotes/vno-stock-quote/">VNO</a>) is a large commercial real estate firm and precisely the kind of stock that suffers as interest rates rise.



Commercial real estate continues to face severe headwinds due to the emergence of remote and hybrid work models. The problem is particularly acute for Vornado Realty which is focused on office properties.



Occupancy rates have rebounded to a degree but remote work is here to stay. firms like tornado Realty cannot remain stuck in the past because that past doesn&rsquo;t exist anymore.



That&rsquo;s only one problem for the firm. Its holdings are concentrated in the New York metropolitan area. Cheaper options have emerged making New York City less attractive than it was before.



The company is also plagued by a troubled dividend <a href="https://www.gurufocus.com/stock/VNO/dividend">that has shrunk</a> by 19% annually over the past 5 years. Beyond that, the firm is also clearly in distress based on multiple metrics <a href="https://www.gurufocus.com/term/zscore/VNO/Altman-Z-Score/Vornado-Realty-Trust">including its Altman-Z score</a> which measures bankruptcy risk.



On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-dying-stocks-that-wont-be-saved-by-interest-rate-cuts/">3 Dying Stocks That Won&#8217;t Be Saved by Interest Rate Cuts</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Dying Stocks That Won't Be Saved by Interest Rate Cuts

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Former President Donald Trump may have a fierce new opponent in Ken Griffin. The billionaire founder of Citadel Securities <a href="https://apnews.com/article/ken-griffin-gop-megadonor-citadel-nikki-haley-2ede4041821f4bf7cce28bca8d1b346b">donated $5 million</a> to Nikki Haley&rsquo;s campaign before she dropped out of the 2024 presidential race. But now Citadel itself is taking aim at Trump Media &amp; Technology Group (NASDAQ:<a href="https://investorplace.com/stock-quotes/djt-stock-quote/">DJT</a>) stock.



Citadel Securities recently responded to TMTG CEO Devin Nunes&rsquo; claims of market manipulation. In fact, a Citadel spokesperson <a href="https://fortune.com/2024/04/22/ken-griffin-citadel-devin-nunes-truth-social-loser/">issued a scathing jab</a> at Nunes. DJT stock is not responding well to the news and has been trending downward since markets opened. 



This performance could be tied to the fact that Trump is <a href="https://www.politico.com/news/2024/04/20/trump-trial-presidential-campaign-costs-00153446">once again on trial</a>. But investors shouldn&rsquo;t ignore the fact that one of Wall Street&rsquo;s most powerful hedge funds has called out Nunes directly. Investors should also consider exactly why Citadel has called out the CEO. 



<h2>Is Nunes a Loser? Or Is DJT Stock?</h2>



Despite the fact that DJT stock saw some growth last week, there&rsquo;s no question that the company is struggling. Truth Social is <a href="https://www.cbsnews.com/news/trump-truth-social-spac-stock-value-djt/">losing money</a> and boasts little revenue. Since it merged with Digital World Acquisition, shares have risen mostly on meme stock momentum. But trading has been volatile, supporting <a href="https://investorplace.com/2024/03/to-the-moon-or-to-the-trash-can-what-the-2024-presidential-election-means-for-dwac-stock/">predictions</a> that being linked to Trump is not making the stock a buy. 



CEO Devin Nunes recently employed a strategy out of the meme stock handbook to explain why DJT stock is struggling. Rather than admit the company&rsquo;s failures, the executive is trying to <a href="https://qz.com/trump-media-stock-naked-short-selling-manipulation-1851422891">blame to naked short selling</a>.



On April 18, Nunes <a href="https://s3.amazonaws.com/sec.irpass.cc/2660/0001140361-24-020575.pdf">penned a letter</a> to Nasdaq Chair and CEO Adena Friedman. Nunes alleged that DJT stock has fallen victim to the illegal practice and named Citadel and several other firms as participants. 



However, Citadel has since responded to the letter by <a href="https://twitter.com/schwartzbCNBC/status/1781348275196481632">calling out Nunes directly</a> and did not mince words. A spokesperson from the hedge fund issued the following statement:




&ldquo;Devin Nunes is the proverbial loser who tries to blame &lsquo;naked short selling&rsquo; for his falling stock price. Nunes is exactly the type of person Donald Trump would have fired on The Apprentice. If he worked for Citadel Securities, we would fire him, as ability and integrity are at the center of everything we do.&rdquo;




As The New Republic <a href="https://newrepublic.com/post/180840/ceo-truth-social-torched-whining-short-selling">reports</a>, this type of statement isn&rsquo;t typically heard on Wall Street. Most firms would take the high road and ignore such allegations, especially as they are typically nothing more than <a href="https://www.forbes.com/sites/brandonkochkodin/2023/06/22/the-loony-conspiracy-theory-threatening-wall-street/?sh=4aa2dc6a4ba1">baseless conspiracy theories</a>. But one of the financial sector&rsquo;s most powerful firms clearly saw fit to take a stand against Nunes. As Citadel noted, the decision to play the naked shorting card speaks to the CEO&rsquo;s integrity and ability to lead. 



<h2>Why It Matters</h2>



For investors, there&rsquo;s an important lesson in this saga that goes beyond Nunes&rsquo; leadership. When anyone starts blaming a stock&rsquo;s poor performance on naked shorting, it&rsquo;s generally best to run the other way. As InvestorPlace reports, some retail investors <a href="https://investorplace.com/2023/10/naked-shorting-isnt-the-problem-stay-far-away-from-these-3-stocks/">love to play that card</a> when it comes to struggling companies as a way of ignoring the actual problems. 



A few meme stocks whose investors have cried wolf include AMC Entertainment (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>), Meta Materials (NASDAQ:<a href="https://investorplace.com/stock-quotes/mmat-stock-quote/">MMAT</a>) and Mullen Automotive (NASDAQ:<a href="https://investorplace.com/stock-quotes/muln-stock-quote/">MULN</a>). Shares of these three companies are down 62%, 83% and 89% over the past six months, respectively. As of this writing, there are no credible reports of any illicit activity regarding how their shares have been bought and sold. This suggests that Nunes&rsquo; claims are baseless and, like its meme stock peers, DJT stock is simply proving to be a bad investment. 



On the date of publication, Samuel O&rsquo;Brient&nbsp;did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Samuel O&rsquo;Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O&rsquo;Brient writes a weekly column on recent political news that investors should be following.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/04/naked-short-selling-citadel-says-djt-stock-ceo-devin-nunes-is-just-a-loser/">Naked Short Selling? Citadel Says DJT Stock CEO Devin Nunes Is Just a &#8216;Loser.&#8217;</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Naked Short Selling? Citadel Says DJT Stock CEO Devin Nunes Is Just a 'Loser.'

AMC, BILI among major communication services gainers; MDIA, CNVS among losers

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Volatility is rising in the stock market. Between the recent hot inflation data and mounting geopolitical tensions, investors are starting to reassess the broader economic environment. 



It seems that the Federal Reserve might not come through with previously anticipated interest rate cuts. This, in turn, has the potential to greatly reduce the speculative juices in the stock market. Throw in some softness in leading <a href="https://investorplace.com/industries/technology/artificial-intelligence/">AI stocks</a>, and the market&rsquo;s red flags are mounting.



Investors should be repositioning their portfolios accordingly. Some of the companies at highest risk today are those that have weak fundamentals. Rather, their shares have found support primarily due to meme trading, short squeezes and other such exogenous factors. 



But the stock market&rsquo;s bull run is now in danger. It&rsquo;s time to throttle back risk exposure, making it an opportune moment to sell these three <a href="https://investorplace.com/stock-types/meme-stocks/">meme stocks</a> before they utterly implode like AMC Entertainment (NYSE:<a href="https://investorplace.com/stock-quotes/amc-stock-quote/">AMC</a>).



<h2>Carvana (CVNA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/cvna1600-300x169.png" alt="Carvana (CVNA) automobile dealership vending machine. Carvana is an online-only used car dealer."><div>Source: Ken Wolter / Shutterstock.com</div></div>Carvana (NYSE:<a href="https://investorplace.com/stock-quotes/cvna-stock-quote/">CVNA</a>) has had a breathtaking run over the past year with this stock rising approximately 700%. Simply incredible stuff. 



Unfortunately, there&rsquo;s scant little fundamental cause to justify a move of any such magnitude. Carvana, as a retailer with its unique car vending machines, has created a distinct marketplace for used cars. It also purchases used vehicles directly from individuals, sometimes at <a href="https://www.theverge.com/22923871/carvana-pandemic-used-car-prices-sold-online-chip-shortage">surprisingly high prices</a>.



If operated judiciously, this business model might be a winner. But, the issue is that the firm is incredibly levered and barely profitable. In fact, it had to fight off <a href="https://www.cnbc.com/2024/02/02/carvana-leaner-and-ready-for-wall-street-redemption.html">bankruptcy concerns</a> not too long ago. Carvana barely squeezed out a small profit last year despite an exceptionally favorable car market and elevated levels of consumer spending.



Given high interest rates and the potential for significantly declining consumer discretionary spending, it seems Carvana probably has already enjoyed the best market conditions it could hope for. If it couldn&rsquo;t squirrel away large profits when the sun was shining, a storm could devastate the firm. Things are likely to get worse from here, and analysts agree. They model Carvana falling back into <a href="https://seekingalpha.com/symbol/CVNA/earnings/estimates">loss-making territory</a> this year. Furthermore, analysts expect Carvana to generate large losses in 2025 and 2026 as well.



In addition, the stock has been bolstered by a massive short squeeze. <a href="https://www.benzinga.com/quote/CVNA/short-interest">32% of the float</a> has been sold short and that&rsquo;s rocket fuel on the way up. But this factor could lead to an equally rapid descent when momentum runs in reverse. 



<h2>Beyond Meat (BYND)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/10/bynd1600-300x169.png" alt="Person holding mobile phone with logo of American meat substitute company Beyond Meat Inc. (BYND) on screen in front of web page. Focus on phone display. Unmodified photo."><div>Source: T. Schneider / Shutterstock.com</div></div>Years ago, Beyond Meat (NASDAQ:<a href="https://investorplace.com/stock-quotes/bynd-stock-quote/">BYND</a>) was a hot new IPO that sought to revolutionize the protein market. Many people thought plant-based burgers and sausages would be a serious competitive threat to traditional animal meats as time went on. 



This is becoming increasingly less likely. Beyond Meat&rsquo;s partnerships with restaurants largely <a href="https://www.cnbc.com/2022/07/28/beyond-meat-stock-falls-after-conclusion-of-mcdonalds-mcplant-test.html">failed</a> to move the needle. Sales at grocery stores have also <a href="https://www.thestreet.com/restaurants/beyond-meat-responds-to-low-sales-and-customers-may-not-like-it">declined</a> as Beyond Meat has struggled to find traction outside of its dedicated, but small, vegan and vegetarian fanbase.



Simply put, alternative proteins haven&rsquo;t found the right product, quality and price mix to garner significant market adoption from omnivores. Beyond Meat has always had massive overhead and low operating margins, resulting in the company losing hundreds of millions of dollars per year.



That was somewhat acceptable when revenues were rising and Beyond Meat could hope to reach operating scale and overcome its financial travails. 



Now, though, the bloom is off the rose. Beyond Meat&rsquo;s revenues plunged from $465 million in 2021 to just $343 million in 2023. Analysts expect another decline to $329 million in 2024.



BYND stock soared on <a href="https://investorplace.com/2024/02/why-is-beyond-meat-bynd-stock-up-62-today/">a short squeeze</a> earlier this year, but it&rsquo;s already given back those gains, and there&rsquo;s little fundamental reason for optimism. Traders should look to exit this meme stock before it goes from bad to worse.



<h2>Joby Aviation (JOBY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/joby-stock-300x169.jpg" alt="A Joby Aviation (JOBY Stock) air taxi on display."><div>Source: T. Schneider / Shutterstock.com</div></div>Joby Aviation (NYSE:<a href="https://investorplace.com/stock-quotes/joby-stock-quote/">JOBY</a>) is a venture stage company attempting to commercialize electric vehicles for short range flights. The idea is that passengers can use Joby vehicles to get from an airport to a destination close to their house or office, for example.



In theory, this sort of electric vehicle could transform the <a href="https://www.afar.com/magazine/what-exactly-are-air-taxis-and-where-are-they">urban taxi market</a>, at least on certain popular high-volume routes. However, it remains to be seen if these sorts of vehicles will be more commercially viable than helicopters. 



Needless to say, private helicopters services have existed for decades and remain a niche. It seems there simply aren&rsquo;t that many consumers that have the money or the willingness to pay for short range private flights. 



Joby and other eVTOL players are hoping that the electrification of the private aircraft will lead to adoption as it can address some noise and environmental concerns. But commercial proof of concept remains lacking. Additionally, short sellers have taken Joby to task <a href="https://investorplace.com/2023/10/kerrisdale-slams-joby-aviation-joby-stock-in-new-short-report/">citing concerns</a> both on the cost of the vehicles and with eventual passenger demand.



Despite having virtually no revenues and losing approximately $500 million per year, Joby retains a massive market capitalization. Simply put, a $3 billion market cap is a gigantic speculative bet on a company that may well not amount to much in the end. Put another way, traders should get out of JOBY stock before the broader economy turns downward and these sorts of highly speculative concept stocks totally implode.



On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Ian Bezek has written more than 1,000 articles for InvestorPlace.com and Seeking Alpha. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. You can reach him on Twitter at @irbezek.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-meme-stocks-to-dump-in-april-before-they-become-the-next-amc/">3 Meme Stocks to Dump in April (Before They Become the Next AMC)</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Meme Stocks to Dump in April (Before They Become the Next AMC)

Warning: AMC is at high risk of performing badly

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
After enjoying the biggest gains of any artificial intelligence stock in 2024, Super Micro Computer (NASDAQ:<a href="https://investorplace.com/stock-quotes/smci-stock-quote/">SMCI</a>) came crashing down the other day. The AI tech leader lost almost a quarter of its value in just one day. Although shares rallied a little recently, the stock remains 28% below its all-time high, hit last month.



Other AI names tumbled too, including Nvidia (NASDAQ:<a href="https://investorplace.com/stock-quotes/nvda-stock-quote/">NVDA</a>) and Advanced Micro Devices (NASDAQ:<a href="https://investorplace.com/stock-quotes/amd-stock-quote/">AMD</a>). Having come so far, so fast, the market is spooked that anything out of the ordinary means it is the beginning of the end.



But does Super Micro stock&rsquo;s failure to give preliminary results when announcing its earnings date warrant the dramatic decline? Are investors right to be concerned the AI music is about to stop?



<h2>A Closer Look at SMCI Stock</h2>



The rapid drop in valuation all across the sector shows the market knows these stocks have gotten well ahead of themselves. They still carry lofty valuations. SMCI stock trades at 60 times trailing earnings and 25 times next year&rsquo;s estimates. Nvidia goes for 70x and 27x, respectively.&nbsp;



It has been like a game of musical chairs. Investors were willing to play, hoping they would be the ones to get out first before the music stopped. This could be the first sign it&rsquo;s happening. 



Despite <a href="https://investorplace.com/industries/technology/artificial-intelligence/">AI stocks</a> all bouncing higher the next trading day as tech sector earnings indicate maybe the bottom isn&rsquo;t dropping out, the market remains wary.



A lot will hinge on Super Micro&rsquo;s earnings report, which is scheduled for next Tuesday, April 30. Advanced Micro Devices will report the same day as will Amazon (NASDAQ:<a href="https://investorplace.com/stock-quotes/amzn-stock-quote/">AMZN</a>) (Nvidia won&rsquo;t report until later in May).



Super Micro, of course, builds servers, networks, storage solutions, workstations and more for data centers that are optimized for AI using Nvidia&rsquo;s chips. Fiscal <a href="https://investorplace.com/2024/03/smci-stock-price-predictions-super-micro-is-up-1200-can-it-go-higher/">second-quarter sales doubled</a> from last year to $3.7 billion while profits rose 62% to $296 million. The tech leader has been growing sales at more the 50% for the past few years. There&rsquo;s no reason to think that is coming to an end in the fiscal third quarter.



<h2>Plenty More Where That Came From</h2>



Investors should look at this opportunistically. Even if SMCI&rsquo;s earnings disappoint and the stock tumbles, investors shouldn&rsquo;t panic. All else being equal, it would make an excellent time to buy up shares.



AI isn&rsquo;t going away. Unlike other supposed game-changing tech advances such as the metaverse, AI has actual, real-world applications businesses can use . It will only get better and represents a huge growth market that will make investors rich.&nbsp;



Analysts like to draw straight lines that grow exponentially. AI is no different. It&rsquo;s forecast the technology will expand from a $300 billion industry last year to $1.8 trillion or more by 2030. That&rsquo;s a sixfold expansion in market size. Even if Wall Street is wrong by half, it still means massive growth.



<h2>Prepare to Pounce</h2>



The building blocks of that trajectory are being built by the likes of Super Micro Computer and Nvidia. While their valuations may ebb and flow at various points as the market gets overheated by enthusiasm (much like we recently witnessed), they will move higher over the long haul.



That&rsquo;s why investors should be excited by the sharp drop in prices. It wouldn&rsquo;t be wrong for them to want them to drop even more after SMCI stock&rsquo;s earnings. A decline doesn&rsquo;t mean Super Micro Computer&rsquo;s business is broken. It just provides a better entry point for investors who have the proper long-term perspective.



On the date of publication, Rich Duprey did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Rich Duprey has written about stocks and investing for the past 20 years. His articles have appeared on Nasdaq.com, The Motley Fool, and Yahoo! Finance, and he has been referenced by U.S. and international publications, including MarketWatch, Financial Times, Forbes, Fast Company, USA Today, Milwaukee Journal Sentinel, Cheddar News, The Boston Globe, L&rsquo;Express, and numerous other news outlets.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/04/is-the-super-micro-stock-crash-a-buying-opportunity-or-a-red-flag-for-ai-investors/">Is the Super Micro Stock Crash a Buying Opportunity or a Red Flag for AI Investors?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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