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Is AMC Stock A Watch Right Now Or Is It Just Another Short-Squeeze?

AMC (NYSE: AMC) bulls were greeted by some promising news earlier this week when it was revealed that the theater chain’s Los Angeles locations would be reopening, and things just keep getting better. 

This article was originally written by MyWallSt. Read more market-beating insights from the MyWallSt team here.

The country’s largest theater company announced on Wednesday that it will have reopened 98% of its theaters by this Friday, March 19, with 99% expected to be fully operational by March 26 next week. The news sent AMC stock soaring 4% by market close yesterday. 

 

Why does this matter?

AMC has been faring better than most in terms of the cinema industry’s response to COVID, managing to keep its head above water while securing additional lines of credit that could help see it through this pandemic. And even though it was caught up in January’s notorious GameStop short-squeeze, its stock price volatility has begun to level out a bit — though it is still up 575% year-to-date (YTD) as of market close yesterday. 

 

Should I invest in AMC?

Cinema will continue to be a risky investment, even after COVID-19 passes, but AMC is positioning itself well to become the last-chain-standing when the dust settles, and could perhaps lap up some market share from the demise of others. Considering that it was exactly a year ago that it was forced to close all of its locations, and next week 99% could be open in some way, there is still some hope yet. 

 

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Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

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