AMC Stock Price: AMC Entertainment is banking on another blockbuster in Uncharted

NYSE:AMC has fallen by 32.5% so far in 2022.
Uncharted took home the top spot at the box office over President’s Day weekend.
AMC Apes are still holding out hope for a short squeeze in 2022.

Stocks Reporter FXStreet

NYSE:AMC could be in for some more downside later this week as market futures are plummeting on news that Putin has ordered Russian troops to attack Ukraine. Growth stocks, with meme stocks in particular, have been hammered this year after the impending threat of rising interest rates have caused a rotation back to value stocks. AMC has lost nearly all of its gains from the epic short squeezes in 2021 as moviegoers have yet to return to theaters at pre-pandemic levels. Despite ongoing measures by CEO Adam Aron to reduce long-term debt and appease shareholders, nothing has been able to stop AMC’s stock price from plummeting further.

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The next Hollywood blockbuster hit theaters over the President’s Day long weekend. Uncharted, the movie based on the video game series by the developer Naughty Dog, brought in $51 million at the box office over the weekend. The film, starring Tom Holland and Mark Wahlberg, was the next big action film following the success of Spider Man: No Way Home which was released in December. Both titles were released by Sony Pictures, and Uncharted is a game that is exclusive to the Sony Playstation console.

AMC stock forecast

In a recent poll by financial site Benzinga, 64.3% of AMC Apes voted that they believe the stock will once again hit $50 in 2022. With a short percentage of over 21% outstanding, the threat of a short squeeze is always there. After falling for the better part of the last year, it’s hard to imagine another short squeeze will take place anytime soon.

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Stocks Reporter

FXStreet

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