AMC's business was not good before the pandemic, so it is hard to imagine with more streaming of movies at home that their business will even get back to where it was. In addition, their outstanding shares has increased 300% since earlier this year (from 100M to 400M) and then you got the recent 43 million share dilution on top of that. It appears that cash burn is about $100M a month. It is a great momentum trade at the moment, so treat it accordingly.
Yeah, it hit 21.45 in 09/2018 during a 2 year stint in the 12.5 - 17.7 bracket. Expecting better today is wishful thinking. I'm hoping the same jokers who managed to squeeze the shorts for a few minutes a while back will come back to add the momentum needed to come as close to 21 as possible at some point this year...
You can find new companies to replace those stuck. Yesterday bought 18 LPI $50s about $1 average. Started selling above $2.8-$3 plus. Thought the calls might hit $5 . We need to transition away from YOLO because “Range Bound” is coming. I don’t want to see some of the nice folks here get stuck like PLTR $40 and RKT $40 holders on Reddit are bummed about.
One more thing, finding WS Bets and pumps you know is not super tough. Yesterday the RIDE $9s started selling nuts at $.05-.$.20, grabbed 50 dirt cheap. They now a 3x, not a huge cash outlay but they get me to my $1000 a day target.
They finally are working on UXIN, UXIN has been range bound, last few days pumpers been mentioning it again. Shorts usually clobber once buyers hit the 52 Week. Year high is $3.65 with May $3s acting weird, I like longer dates but gladly sell my common at $4 if they pump it.
I sold the RIDE, about 7x the initial investment. Just trying to show you can make up those stubborn losses on “deeply stuck stocks”. Hopefully AMC hits $18, Cheers!
AMC is having a battle at the 14 level. Leaving large wicks where it tries to rally past 14 and can't for the last 4 days. Based on the volume it should be higher. But a large seller is trying to hold it below. So it will break one way or the other. If the buyers persist it could hit 20 again. Price of the stock means nothing to the fundamental value of the company presently.
I'm a newbie trader who happens to have done exceedingly well in 2020 with little effort. So far, 2021 is a humbling year, very difficult for me to make money, but I enjoy the challenge which pushes me to hone in on what I enjoy most, like timing, amounts, variety, risk... There's much for me to learn, particularly with regards to what affects a stock price, other than the fundamentals which I don't think mean much nowadays, if they ever did. Option traders, short sellers, backroom manipulators, systems,... supply and demand seems so archaic "in the real world". I'm very intuitive, but that's not enough to not lose money, let alone make some and I need to learn what to look for that affects the price in the short, medium and longer term. Heck, I don't even know how to read options trades! As for AMC, I see the "battle" going on at 14 by looking at the outsized trade volume of the last 4 days. Yet, looking 3 years back, 14 looks to be a good price considering latest earnings and macro situation. We were at 6 not long ago! I admit that I'd be happy to see the WSB youth win this arm wrestle...