- NYSE:AMC falls 0.67% on Friday to cap a poor week.
- AMC Apes point to market manipulation in dark pool charts with a new hashtag.
- AMC pops on Monday as apes regenerate over thew weekend.
Update: Funny how it is market manipulation on the way down but all rosy on the way up. The apes may be right or not but they are winning the battle on Monday as the stock surges 7% in the first hour of trading. Cinema attendances have a long way to go before all is rosy with AMC's balance sheet and this debt burden may lead to problems down the road for shareholders. For now though all is forgotten and it is to the moon is back as the war cry of the AMC apes.
NYSE:AMC closes out another week of losses as the short squeeze from earlier in June fades into a distant memory. AMC Apes will argue that this is a dip worth buying, but what happens when the dip keeps on dipping? On Friday, shares of AMC dropped 0.67% to close out the tumultuous week of trading at $36.99. The stock has now given back nearly all of the gains made on the 25% surge it had on Tuesday, and it doesn’t look to be seeing any sign of support on the way down.
Stay up to speed with hot stocks' news!
AMC Apes have come up with some pretty outrageous theories in Reddit forums, and the latest one takes aim squarely at market makers. The hashtag #DarkPoolAbuse has been trending on Twitter for the past couple of days, as loyal AMC investors point to large blocks of trades that institutional investors make in the dark pool. The dark pool is a separate market where large trades can take place that won’t have a direct effect on the public markets. Apes are certain that market makers are using these dark pools to manipulate the price of AMC’s stock.
AMC stock forecast
The great irony with AMC is that the loyal shareholders who voted against the company selling 25 million shares to raise further capital, may be nudging AMC closer to bankruptcy. Several analysts have labelled this a missed opportunity for AMC, as the company currently had future debt obligations in the neighborhood of $5.4 billion. Unless AMC can come up with the cash in some other way, AMC Apes may have just unknowingly sealed the fate of the company.
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 stays near 1.0400 in thin holiday trading
EUR/USD trades with mild losses near 1.0400 on Tuesday. The expectation that the US Federal Reserve will deliver fewer rate cuts in 2025 provides some support for the US Dollar. Trading volumes are likely to remain low heading into the Christmas break.
GBP/USD struggles to find direction, holds steady near 1.2550
GBP/USD consolidates in a range at around 1.2550 on Tuesday after closing in negative territory on Monday. The US Dollar preserves its strength and makes it difficult for the pair to gain traction as trading conditions thin out on Christmas Eve.
Gold holds above $2,600, bulls non-committed on hawkish Fed outlook
Gold trades in a narrow channel above $2,600 on Tuesday, albeit lacking strong follow-through buying. Geopolitical tensions and trade war fears lend support to the safe-haven XAU/USD, while the Fed’s hawkish shift acts as a tailwind for the USD and caps the precious metal.
IRS says crypto staking should be taxed in response to lawsuit
In a filing on Monday, the US International Revenue Service stated that the rewards gotten from staking cryptocurrencies should be taxed, responding to a lawsuit from couple Joshua and Jessica Jarrett.
2025 outlook: What is next for developed economies and currencies?
As the door closes in 2024, and while the year feels like it has passed in the blink of an eye, a lot has happened. If I had to summarise it all in four words, it would be: ‘a year of surprises’.
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.