- NYSE:AMC fell by 0.94% during Monday’s trading session.
- Bed Bath and Beyond continued to squeeze higher with another 23% gain.
- CEO Adam Aron might have provided some misleading facts about stock dilution.
NYSE:AMC started the week off on the back foot despite an ongoing short squeeze that has been hitting various meme stocks. On Monday, shares of AMC slipped lower by 0.94% and closed the trading session at $24.21. Stocks extended their recent momentum and built upon its fourth consecutive week of gains. All three major indices closed the day higher yet again to start the week. The Dow Jones rose by 151 basis points, the S&P 500 gained 0.40%, and the NASDAQ added a further 0.62% during the session.
The meme stock squeeze continued on Monday although both AMC and GameStop (NYSE:GME) were left on the sidelines. Bed Bath and Beyond (NASDAQ:BBBY) extended its hot streak and rose by a further 23.55% during the session. The stock has now gained an improbable 220% over the past month of trading. Bed Bath and Beyond still has a short float of 103% so the stock could continue to squeeze in the coming days as Reddit traders send the stock higher.
AMC stock forecast
Over the weekend, AMC CEO Adam Aron sent out a tweet that had some people scratching their heads. Aron has been especially zealous during this recent squeeze for the stock, and has used this momentum to praise the further dilution of the stock. The Silverback explained that each time AMC had diluted the stock, the price of the stock rose. It is a strange narrative that definitely turned some heads, but it is believed Aron was further getting Apes excited over the preferred shares that AMC is distributing which also trade under the ticker symbol, APE.
Like this article? Help us with some feedback by answering this survey:
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.