- AMC stock has been languishing and struggling for form.
- Can the new Bond movie revitalize the stock?
- AMC apes still lurk in the background, and pre-orders for Bond is strong.
AMC stock settled for further losses yesterday with the stock closing down nearly 2% on the day to below $40.
-637684178712098726.png)
It was a fairly uneventful day for AMC stock as the 15-minute, intraday chart above shows. The daily range was more or less a tiny $1 from high to low, and volume was also light as a result. The stock has been struggling lately ever since failing to hold the impressive break above $50. Now it has retreated and found support from the 100-day moving average with the volume profile also lending support to this zone just under $40. This raises an interesting support ahead of the new James Bond release, which is expected to greatly increase ticket sales.
AMC key statistics
| Market Cap | $20.7 billion |
| Price/Earnings | |
| Price/Sales | 3 |
| Price/Book | |
| Enterprise Value | $36 billion |
| Gross Margin | -0.74 |
| Net Margin |
-3.15 |
| 52 week high | $72.62 |
| 52 week low | $1.91 |
| Short Interest | 18.9% Refinitiv |
| Average Wall Street Rating and Price Target | Sell $5.44 |
AMC stock news
We reported yesterday that advance ticket sales for the new Bond movie were looking strong with Reuters reporting that an AMC unit in London has witnessed ticket sales over 175,000 already. AMC cinema chain rival Cineworld has also backed that up, saying that pre-selling for the Bond installment "No Time to Die" is the highest since Marvel's Avengers: Endgame in 2019. Cineworld (CINE.L) added that there were already several sold-out screenings and that ticket sales in the first 24 hours have only been surpassed by two films in the last half decade. Cineworld shares were up nearly 12% in London on Monday and are positive again on Tuesday.
Cineworld (CINE.L) daily chart
AMC stock forecast
What works for Cineworld should also see a boost for AMC, but so far the usually vocal retail crowd has not picked this one up on social media. Bond is a uniquely British institution, so perhaps the attention will shift from London to the US once screens in the US fill up. Or perhaps US viewers are not as interested? We do not think that is the case. AMC is at an area of high volume, so high support despite the volatile nature of this one. Stock markets are under pressure, but given the rise in CINE we feel the risk-reward is skewed here to trying a long position.
FXStreet View: Neutral, bullish on a break of $48, bearish on a break of $30.
FXStreet Ideas: Still stick with our call from Monday on buying the Bond dip. Increased news flow is likely. We would buy below $40 for a Bond-induced pop, but always use stops. Alternatively, a $48 call for October 8 costs $0.63 per contract.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD turns positive to retake 1.0500, as focus shifts to Fed Minutes
EUR/USD is trading close to 1.0500 in Tuesday's European trading, erasing lsses to trade in the green. The US Dollar reverses President-elect Trump’s tariff threats-led gains, allowing the pair to stage a modest recovery heading into the release of the Fed Minutes later in the day.
GBP/USD extends recovery toward 1.2600 ahead of BoE's Pill, Fed Minutes
GBP/USD extends the recovery toward 1.2600 in the European session on Tuesday, following a slump to the 1.2500 area in Asian trading. The pair finds footing amid a retreat in the US Dollar as markets look past Trump tariff threats, bracing for BoE Pill's speech and Fed Minutes.
Gold price defends $2,600 ahead of FOMC minutes; not out of the woods yet
Gold price retains its negative bias for the second straight day and trades just above a one-week low during the first half of the European session on Tuesday. The growing conviction that Donald Trump's expansionary policies will reignite inflation and limit the scope for the Fed to cut interest rates further triggers a fresh leg up in the US Treasury bond yields.
Trump shakes up markets again with “day one” tariff threats against CA, MX, CN
Pres-elect Trump reprised the ability from his first term to change the course of markets with a single post – this time from his Truth Social network; Threatening 25% tariffs "on Day One" against Mexico and Canada, and an additional 10% against China.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.