What's Going On With AMC Entertainment Stock: Will The Apes Hodl?
Portfolio Pulse from Erica Kollmann
AMC Entertainment Holdings, Inc. (NYSE:AMC) shares continue to fall ahead of a 10-to-1 reverse stock split scheduled to take effect Thursday. The company remains a favorite among retail investors, especially the 'apes' who are bullish on heavily shorted stocks. AMC Preferred Equity Units (NYSE:APE) will be converted to AMC common stock the day after the reverse split. More than 90.5 million shares have been traded in the session, compared to the stock's 100-day average of 32.483 million shares.
August 23, 2023 | 2:47 pm
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NEUTRAL IMPACT
AMC Preferred Equity Units (APE) will be converted to AMC common stock the day after the reverse split.
The conversion of AMC Preferred Equity Units to AMC common stock could potentially impact the price of APE, but the direction of the impact is uncertain.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Bed Bath & Beyond, Inc. (OTC:BBBYQ) is mentioned as one of the stocks favored by 'apes', but no specific news or events are reported.
Bed Bath & Beyond is mentioned in the context of being favored by 'apes', but there are no specific news or events reported that would impact the stock.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20
NEUTRAL IMPACT
GameStop Corporation (NYSE:GME) is mentioned as one of the stocks favored by 'apes', but no specific news or events are reported.
GameStop is mentioned in the context of being favored by 'apes', but there are no specific news or events reported that would impact the stock.
CONFIDENCE 90
IMPORTANCE 20
RELEVANCE 20
NEGATIVE IMPACT
AMC shares continue to fall ahead of a 10-to-1 reverse stock split. The company remains a favorite among retail investors.
The upcoming reverse stock split and conversion of AMC Preferred Equity Units to AMC common stock are likely causing uncertainty among investors, leading to the fall in AMC's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100