- NYSE:AMC falls 0.67% on Friday to cap a poor week.
- AMC Apes point to market manipulation in dark pool charts with a new hashtag.
- AMC pops on Monday as apes regenerate over thew weekend.
Update: Funny how it is market manipulation on the way down but all rosy on the way up. The apes may be right or not but they are winning the battle on Monday as the stock surges 7% in the first hour of trading. Cinema attendances have a long way to go before all is rosy with AMC's balance sheet and this debt burden may lead to problems down the road for shareholders. For now though all is forgotten and it is to the moon is back as the war cry of the AMC apes.
NYSE:AMC closes out another week of losses as the short squeeze from earlier in June fades into a distant memory. AMC Apes will argue that this is a dip worth buying, but what happens when the dip keeps on dipping? On Friday, shares of AMC dropped 0.67% to close out the tumultuous week of trading at $36.99. The stock has now given back nearly all of the gains made on the 25% surge it had on Tuesday, and it doesn’t look to be seeing any sign of support on the way down.
Stay up to speed with hot stocks' news!
AMC Apes have come up with some pretty outrageous theories in Reddit forums, and the latest one takes aim squarely at market makers. The hashtag #DarkPoolAbuse has been trending on Twitter for the past couple of days, as loyal AMC investors point to large blocks of trades that institutional investors make in the dark pool. The dark pool is a separate market where large trades can take place that won’t have a direct effect on the public markets. Apes are certain that market makers are using these dark pools to manipulate the price of AMC’s stock.
AMC stock forecast
The great irony with AMC is that the loyal shareholders who voted against the company selling 25 million shares to raise further capital, may be nudging AMC closer to bankruptcy. Several analysts have labelled this a missed opportunity for AMC, as the company currently had future debt obligations in the neighborhood of $5.4 billion. Unless AMC can come up with the cash in some other way, AMC Apes may have just unknowingly sealed the fate of the company.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD holds steady near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold: Middle East war fears spark fresh XAU/USD rally, will it sustain?
Gold price is trading close to $2,400 early Friday, reversing from a fresh five-day high reached at $2,418 earlier in the Asian session. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.