AMC Entertainment Stock Dips to 2-Month Low, Sparks Retail Chatter
Synopsis
Recently, AMC said it plans to conduct another stock sale of 50 million shares through Goldman Sachs, with plans to use the proceeds to pay down debt and upgrade locations.
Movie theater chain AMC Entertainment Holdings stock ($AMC) stock dipped to a nearly two-month low on Monday, sparking retail chatter on Stocktwits.
The stock was down 2.8% on Monday evening, closing at $4.06 followed by a slight uptick of 0.25% in the after-hours trading session.
Recently, AMC said it is planning to sell 50 million shares through Goldman Sachs, with the aim to use the proceeds to pay down debt and upgrade locations. Following the news, the company’s stock jumped along with many other meme stocks.
Retail sentiment on AMC has dipped to ‘extremely bearish’ on Stocktwits from ‘bearish’ a day ago. While message volumes on the stock jumped to ‘high’ zone with a 824% jump indicating increased retail attention on the stock.
Amid the broader bearish mood, there were several bullish users, with one user suggesting if AMC’s future should just be limited to movies.
AMC last reported quarterly earnings in November, clocking $0.04 in earnings per share, beating analyst consensus estimates of $0.07.
Separately, poll on Stocktwits on meme stocks revealed a majority of users think retail hype is on its way back.
AMC stock is down 33% year-to-date.
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