GabiDahdouh

AMC 1W analysis 07/07/21

Long
NYSE:AMC   AMC Entertainment Holdings, Inc
Hello everyone , as we all know the market action discounts everything :) the market showing great strength and reaching 53.52 after dropping from 61.77 in the past 2 weeks , no signs of any reversal yet the stock price is still going in an uptrend and we can tell that by looking at the indicators where we can see that the stock price is moving above the moving average ( bullish sign), the RSI at 75.44 very strong bullish movement and ADX hitting 71.39 showing us that the market is strongly trending . we could be seeing a small pull back in the next week but then the stock most likely is gonna continue moving up .

Fundamental analysis :
AMC Entertainment on Monday said it was dropping plans to have shareholders vote to approve the issuance of 25 million new shares. That vote was scheduled to take place at the company’s annual meeting on July 29. The plan apparently drew enough vocal opposition from the company’s new base of mostly individual investors to cause the about-face; Chief Executive Adam Aron described the feedback as “many yes, many no” in a tweet Monday morning. “AMC does not want to proceed with such a split,” he added.
The news sent AMC’s stock price soaring by over 5% at Tuesday’s pre-trading session. However, the stock has consolidated, and it is up by 1.9% over the past 24 hours. At this time of this report, AMC is trading above $53 per share.
AMC is one of the best-performing stocks so far this year. Similar to GameStop last year, AMC has been caught up in a trading frenzy amongst retail traders that leverage Reddit to boost their stock picks.
So far, AMC’s stock price is up by 2,350% year to date, causing the company’s market cap to rally past $26 billion. AMC was planning to issue more stocks and raise money to enable it to undertake potential acquisitions. The company had intended to acquire ArcLight and Pacific theater locations that underperformed during the pandemic. AMC also said the extra funds would be allocated to pay down debt, reduce interest costs, or pay off millions in unpaid rent.
AMC has been using stock sales in recent months to raise fresh capital. According to the company, without the additional funds, it would have gone bankrupt by now.

Make sure to Follow and Like for more content
This is my personal opinion and not financial advice.
If you have any questions please ask

Thank you for reading.