The “squeeze the shorts” mantra was back in style. From Wall Street Bets to Stocktwits to iHub, AMC stock was again the subject of thousands of comments. Yet the discussion was far from secretive. Like a lion wading in the tall grass for an opportunity to pounce on its prey, social media investors were plotting their next big short-seller attack. We kept our eyes on AMC from there, waiting for signs of a second short squeeze. We covered that story in an article that can be found here.
AMC GAMMA SQUEEZE MOVIE
We would eventually learn that they were right.ĪMC heated up again in late February after New York Governor Andrew Cuomo said movie theaters could reopen at limited capacity in a couple of weeks. On iHub, many speculated that a significant number of short positions were still not covered. In the days that followed, social media investors weren’t convinced the battle was over. When the dust settled, AMC was up over 300% on the day. As Wall Street Bets traders had hoped, the short-covering frenzy accelerated AMC’s sudden ascent. This forced AMC short-sellers, those that were betting the stock would decline, to close out their positions by buying AMC stock. On January 27th, the group’s coordinated barrage of buy orders drove up the AMC stock price in quick order. By late January the troops were amassed for the next short squeeze battle. With the Gamestop short squeeze well underway, Reddit’s Wall Street Bets army turned its attention to AMC. In the case of homebound online investors, it was by launching a short-seller attack on a handful of stocks that were deemed worthless by Wall Street analysts.ĪMC’s well-documented financial struggles and high short interest made it an ideal candidate.
The pent-up energy had to be released somehow. With the winter months setting in, people were experiencing cabin fever like never before. The pandemic had crossed over into the new year. Four sessions later it ran as high as $72.62.ĪMC Stock Daily Chart January 2021: The Previews You can find that here.ĪMC closed at $19.56 on the day of our May 26th story.
Subscribers that acted on our bullish opinion of the mobile payments startup enjoyed a stunning run from $0.27 to nearly $8.00.īack to AMC stock, we clued our subscribers of the pending short squeeze well before the big gains were made. In November 2020 we alerted subscribers to TSNP which later became HMBL.
Gamestop may say otherwise, but after the events of this week, AMC stock has certainly tightened the race.īefore we attempt to break down the madness that is AMC stock, know that here at Insider Financial we are always looking out for the next big short squeeze. Movie theatre chain AMC Entertainment (NYSE: AMC) is making a strong case for Best Picture of the Year. Retail investors banded together by social media platforms like Reddit’s Wall Street Bets, Stocktwits, and iHub have created some of the most amazing spectacles the stock market has ever seen. 2021 is shaping up to be the year of the meme stock.
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