Trading Strategies For AMC Entertainment Stock Heading Into Q3 Earnings
Portfolio Pulse from Melanie Schaffer
AMC Entertainment Holdings, Inc (NYSE:AMC) is expected to report a loss of 38 cents per share on revenues of $1.17 billion for Q3. The company's stock fell over 2% ahead of the earnings announcement. Wedbush maintained a Neutral rating on AMC and lowered the price target from $19 to $11. The firm is optimistic that AMC could post positive guidance for Q4 due to the success of Taylor Swift’s 'Eras Tour Concert' Movie and Beyonce’s upcoming movie release. From a technical analysis perspective, AMC’s stock looks bullish heading into the event.
November 08, 2023 | 8:17 pm
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NEGATIVE IMPACT
AMC's stock fell over 2% ahead of its Q3 earnings announcement. Wedbush has maintained a Neutral rating on the stock and lowered the price target from $19 to $11. The firm is optimistic about AMC's Q4 due to successful and upcoming movie releases.
The drop in AMC's stock price ahead of its Q3 earnings announcement indicates investor uncertainty. Wedbush's lowered price target also suggests a cautious outlook. However, the firm's optimism about Q4 due to successful and upcoming movie releases could potentially offset some of the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100