AMC Entertainment Rises 4.97% on GameStop CEO's Stock Purchases
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
- Stock Price Surge: AMC shares rose 4.97% to $1.69 on Thursday, driven by renewed interest following GameStop CEO Ryan Cohen's consecutive purchases of 1 million shares, indicating a resurgence in market focus on AMC.
- Retail Investor Enthusiasm: Cohen's stake in GameStop now exceeds 9%, reigniting retail investor interest in AMC, particularly as the company navigates post-pandemic debt challenges.
- Market Sentiment Impact: Historically, AMC and GameStop have moved together, and Cohen's purchases may have spurred trading activity in AMC, especially with a high short interest of 18.19%, increasing expectations for a potential short squeeze.
- Technical Indicator Analysis: AMC is currently trading 5.3% above its 20-day simple moving average but remains below its 50-day and 100-day averages, indicating longer-term weakness, with a 50.15% decline over the past year, positioning it closer to its 52-week lows.
Analyst Views on AMC
Wall Street analysts forecast AMC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AMC is 2.15 USD with a low forecast of 1.30 USD and a high forecast of 3.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
0 Buy
3 Hold
1 Sell
Hold
Current: 1.450
Low
1.30
Averages
2.15
High
3.00
Current: 1.450
Low
1.30
Averages
2.15
High
3.00
About AMC
AMC Entertainment Holdings, Inc. is a movie exhibition company. The Company is principally involved in the theatrical exhibition business and owns, operates or has interests in theatres primarily located in the United States and Europe. The Company operates through two segments: U.S. markets and International markets. In the U.S. markets segment, it owns, leases or operates theatres in 41 states and the District of Columbia. The International markets segment has operations in or partial interest in theatres in the United Kingdom, Germany, Spain, Italy, Ireland, Portugal, Sweden, Finland, Norway, and Denmark. Its brands include AMC, AMC CLASSIC and others. It also offers food and beverage alternatives beyond traditional concession items, including collectible concession vessels, made-to-order meals, customized coffee, healthy snacks, beer, wine, premium cocktails, and dine-in theatre options. It operates approximately 870 theatres and 9,700 screens across the globe.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
