![]() Not too far back, on May 16, the central bank of Switzerland announced that it raised positions in multiple American stocks, including AMC as well as Apple Inc (AAPL: US) and Tesla Inc (TSLA: US). AMC reported that its theaters welcomed as many as 4 million customers to watch a screening of “Top Gun: Maverick”. Immediately, the movie went on to gross more than $100 million during the single weekend, not only competing to be the highest-grossing film of Tom Cruise’s career but also skyrocketing entertainment stocks, like AMC. Released almost 36 years after its prequel, “Top Gun: Maverick” opened on the Memorial day weekend. While there were many optimistic events going in the entertainment stock’s way, one long-awaited film release could be responsible for the above price soar. The next day, on May 27, it closed at $14.43 marking a price rise of nearly 22.80%. To add to it, the number of shares on loan has risen to 175,401,216 the latter being its highest number year-to-date.ĭespite the ongoing shorting, the bullish news is that AMC soared by almost 26.57% in the past 5 days. The utilization rate is 100%, as it has been since February 07. It eventually picked up pace again, and now, for the past few days has been seeing large fluctuations.Īt present, AMC’s short interest rate is almost 33.94%. The stock was priced at $26.52 on January 03 and fell in the third month of the year. Another Short Squeeze in the WorksĪMC stock saw a heavily bumpy ride since 2022-beginning. Considering the recent turn of events and a million-dollar movie release, it seems there is hope for AMC after all. Regardless, the stock’s followers, referring to themselves as Apes still held on. Ticket sales were still lagging due to social distancing measures, and Insiders were lowering their holdings due to the risk AMC was bringing. Back then, the company was still in recovery mode in the aftermath of the COVID-19 pandemic. With a current M Cap of almost $6.6 billion, AMC was previously covered on two occasions by 2iQ analysts in May ‘21 and June ’21. Some stocks including AMC Entertainment Holdings Inc (AMC: US) have amassed a large following on platforms like Reddit. Meme stocks have been the rage in recent years.
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