Is AMC Stock A Buy Now? Here's What Fundamentals, Chart Action, Fund Ownership Metrics Say

Investor's Business Daily2021-11-03

Going to the movies is exciting. But can it match the action by AMC Entertainment(AMC)? Starting the year at 2 a share,AMC stock skyrocketed more than 36-fold to an all-time high of 72.62 on June 2. ...

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Peachu
2021-11-03
Peachu
TLDR: breaking triple digits soon
plasticbag
2021-11-03
plasticbag
Lets go to the moon
franklinzy
2021-11-03
franklinzy
Hodl

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Here's What Fundamentals, Chart Action, Fund Ownership Metrics Say\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-03 10:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/research/amc-entertainment-stock-buy-now/?src=A00220><strong>Investor's Business Daily</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Going to the movies is exciting. But can it match the action by AMC Entertainment(AMC)? Starting the year at 2 a share,AMC stock skyrocketed more than 36-fold to an all-time high of 72.62 on June 2.\n...</p>\n\n<a href=\"https://www.investors.com/research/amc-entertainment-stock-buy-now/?src=A00220\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AMC","symbol_name":"AMC院线","start_time":0,"source_url":"https://www.investors.com/research/amc-entertainment-stock-buy-now/?src=A00220","article_id":"1132636839","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1132636839","pubTimestamp":1635906639,"sourceInfo":{"source_id":"lsy1610612141385","name":"Investor's Business Daily"},"weMediaInfo":null,"summary":"Going to the movies is exciting. But can it match the action by AMC Entertainment(AMC)? Starting the","collect":0,"end_time":0,"defaultTopTitle":"investors.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AMC":"AMC院线"},"translate_title":"现在买AMC股票吗？以下是基本面、图表动作、基金所有权指标所说的","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AMC":0.9},"content_text":"Going to the movies is exciting. But can it match the action by AMC Entertainment(AMC)? Starting the year at 2 a share,AMC stock skyrocketed more than 36-fold to an all-time high of 72.62 on June 2.\nEven though an epic short squeeze rally hit overdrive in January this year, AMC stock still attracts short sellers.\nData frombrokerage TradeZero Americafor the week ended July 23 shows AMC Entertainment placed 3rd among stocks trading at least $10 a share and getting sold short the most. A total 14,666 short-sale trades crossed TradeZero's platform at an average price of 38.18 per share. AMC ranked No. 2 for the weeks ended Aug. 27 and Sept. 3; in the latter week, the broker executed 8,421 trades at an average price of 45.96 per share.\nIn the week ended Sept. 17, TradeZero reports an additional 8,543 short-sale trades made at an average price of 48.39. Yet are the shorts showing fatigue? Data for the week ended Oct. 15 shows AMC seeing 2,604 short trades on the platform at an average price of 39.62 per share. And in the latest week ended on Oct. 29? AMC disappeared from TradeZero's top 10 rankings.\nShares remain above an Aug. 5 low of 28.91. And briefly in mid-October, AMC appeared to be winning a battle to regain the north side of the technically pivotal10-week moving average.\nThis past week, the stock cut some of its early heavy losses to finish down 3% in light volume. This week, AMC has rebounded sharply so far, up nearly 10% headed into Wednesday's session and ahead of its Q3 results scheduled for Nov. 8.\nIs AMC Stock A Buy Now?\nSo, after a disappointing September and October, in which the stock retreated a combined 26%, AMC remains inbase-building mode.\nMeanwhile, check out the50-day moving average, drawn in red in all IBD charts.\nAMC shares showed an encouraging rebound back above this medium-term technical support-and-resistance level. Yet the stock is again testing the will of buyers at the 50-day line.\nAMC Stock: Still A Leader In The Stock Market Today\nSo, given extraordinary gains through late May, is it time to take profits off the table? After all, the May rally displayedelements of a climax run. Gains from a recentbuy pointat 14.64 have shrunk quite a lot.\nOr is it a buy now?\nThis story examines fundamental, technical and fund ownership factors to determine if the Leawood, Kan., company with 1,004 theaters and 11,041 screens scores a good probability of making more money for stock traders.\nAfter Memorial Day, AMC soared 23% on an agreement to sell 8.5 million shares at $27.15 per share to Mudrick Capital. Proceeds would go toward strategic acquisitions of \"additional theatre leases, as well as investments to enhance the consumer appeal of AMC's existing theatres.\"\nSome of that money could also go toward paying down debt.\nOn June 3, shares at one point fell more than 30% on news the company plans to sell up to 11.55 million shares — or roughly 2.6% of the total common shares outstanding. AMC raised $587 million. On July 6, the company decided toshelve a plan to sell more shares to the public.\nAre The Shorts Covering AMC Stock?\nMeantime, consider this stat: Prior to the giant gain on June 2, over just five sessions of trade (May 24 to 28), AMC obliterated the short sellers by rising as much as 203%. In the week ended June 4, AMC stock almost finished up 100% or more for a second straight week. Incredible.\nEarlier this year, WallStreetBets chat-room traders on Reddit joined in unison in buying shares and bullish call options in AMC stock. They did the same in a band of other companies that had been heavily sold short and struggling.\nWhen a stock shows ahigh level of short interestand is getting bid up, you can almost count on a chain reaction of buying to occur. Why? Short sellers, betting on a decline in the stock, often have to do an about-face. They cover their short position by buying back shares.\nAccording toMarketSmith,short interest— shares sold short by individual and professional investors —  stands at 1.5 times AMC stock's daily average volume of 63.4 million shares. Short interest, in other words, now encompasses nearly 19% of the stock's entire float. Still a hefty amount. The figure stood at 21% in the spring.\nThe NYSE publishes data on short sale positions only twice a month. Plus, the short coverage ratio can be skewed by dramatic changes in daily share turnover. The above data also does not consider any shares that may have been sold short in dark pools.\nTheInvestor's Business Daily teamwill keep close watch for any signs that short interest has dropped lately.\nSince late January, AMC stock has followed an extreme zigzag path. Just two weeks after that 20.36 peak, AMC crashed. Shares fell to as low as 5.26. Then came a huge second wave of buying, sending shares back in the low teens.\nWeek to week, the stock (pumping its market value this year to as high as $36 billion on 513 million shares outstanding and a float of 508 million) has lately seen its overall price range narrow. That's good as thenew base continues to form.\nWill AMC Stock Keep Rallying In The Long Term?\nIn 2020, AMC lost $16.15 a share. Over the past five quarters, the company's sales have shrunk 22% to as much as 99% vs. year-ago levels. Such results would normally devastate most companies.\nWall Street now expects net losses of $2.81 a share for 2021, a far cry from the unadjusted net loss of $16.15 it suffered last year. And the Street sees net losses shrinking further in 2022, to 78 cents a share. Recently, that estimate stood at a net loss of 96 cents.\nWith big sales expected to arrive, expect cash flows to improve.\nA Q2 net loss of 71 cents a share came well below an estimated net loss of 93 cents. Sales rebounded to $444.7 million vs. $18.9 million a year ago, blasting analysts' consensus forecast for $375 million. In an Aug. 9 news release, AMC Chairman and CEO Adam Aron noted the company raised another $1.25 billion in new equity capital during the quarter; welcomed more than 22 million guests back to its theaters across the globe; and saw successive new pandemic-era box office records on the back of new blockbuster films released over the three-month period.\nSome observers fret over the company's debt load ($5.5 billion in borrowings due one year from now or longer, as of June 30) vs. total assets ($11.3 billion) on the balance sheet. While the company generated $1.21 billion in net cash from financing activities in the first six months of 2021, AMC still posted a negative free cash flow of -$252 million. Operating cash flow was a net outflow of $234 million.\nThe last time AMC paid a dividend came on March 23, 2020, at 3 cents per share.\nAMC has yet to set the date of its third-quarter results.\nBut on Oct. 4, the company reported a new post-pandemic reopening record for Thursday-to-Sunday attendance and new post-opening records for ticket revenues plus food and beverage sales. Box-office hits \"Venom: Let There Be Carnage\" and the newest James Bond thriller, \"No Time to Die,\" drove the strong results as 2.4 million moviegoers watched a film at AMC Theatres in the U.S. during the Sept. 30-Oct. 3 weekend.\nMore than 1.4 million moviegoers watched a movie at Odeon Cinemas overseas. That also marked a new post-reopening record.\nKey IBD Ratings\nFor now, AMC scores poorly in many of IBD's proprietary ratings. They include an improved 44Earnings Per Share Ratingon a scale of 1 to 99. The Sales + Profit Margins + Return on Equity (SMR) Rating of D has improved but remains weak. Finally, an 81Composite Ratingon a scale of 1 (wizened) to 99 (wizardly) is rising again, yet signals room for improvement.\nIdeally, you want to focus on stocks that show a 90 to 95 Composite score or higher.\nMeanwhile, AMC's movies industry group has bullishly propelled back into the top 20 among IBD's197 industry groupsin terms of six-month price-weighted performance. Good.\nMutual funds owning a stake in AMC have recently 403 at the end of the September quarter vs. 186 in Q4 of 2020. Impressive growth here.\nIn other words, professional portfolio managers appear to be accumulating shares.\nAMC Stock Forecast\nWhen choosing growth stocks for the biggest potential gains based on theCAN SLIM investment paradigm, focus on those with aComposite Ratingof 90 or higher. Shooting for a 95 or higher, particularly at the start of a new bull market, is even better.\nHowever, given that AMC stock is a turnaround play, it makes sense to place more emphasis on relative strength. AMC has that in spades.\nA 99Relative Strength Ratingon a scale of 1 to 99 means that AMC stock has outperformed 99% of all stocks in the IBD database over the past 12 months. Strong long-term performance? Indeed.\nPlus, despite the recent downdraft, theAccumulation/Distribution Ratingshows an excellent A grade on a scale of A to E.\nOn the weekly chart and inMarketSmith, watch for therelative strength lineto continue rising. The RS line, drawn in blue, compares a stock or ETF's moves vs. the S&P 500. When a stock breaks out of anew base, prefer to see the RS line also running to new high ground. This means that a stock is now outperforming the general market.\nEarlier this year, AMC created a boxy cup over a period of two months. That's plenty of time for asolid cup patternto form. This pattern produces aproper buy pointof 10 cents above the cup's left-side peak of 14.54 on March 18. So in AMC's case, thecorrect entrystood at 14.64.\nAMC Action In The First Half Of 2021\nIn effect,AMC stockstaged astrong breakouttwice over a short period in May.\nFirst, AMC had to surpass 14.64 before becoming a new buy. A 20% gain on May 25 sent shares zooming past theproper buy point. The5% buy zonegoes up to 15.37; the stock quickly got extended.\nAs always, control your risk. Not all breakouts work, especially when thestock market uptrend goes under pressure or into a correction. The best time to buy? When IBD notes the stock market in aconfirmed uptrend, it signifies that buying demand is healthy among institutional investors.\nIn stock investing, seek the wind at your back, not in your face.\nBack in May, this story suggested watching how AMC stock handles potential upside resistance near 20. In fact, the action since that incredible week ended Jan. 29 molded adeep cup pattern. From that vantage point, AMC delivered a second breakout on May 27, surpassing a new 20.46buy pointwith fury.\nTo get this ideal entry in acup without handle, simply add 10 cents to the cup's left-side high — 20.36. On May 27, shares rifled past this entry. For a while, AMC refused to look back. Still, with gains of as much as 501% in just two weeks, it made sense to lock in at least partial profits.\nConclusion: Is It A Buy Now? Or A Sell?\nAMC still trades 46% below its 72.62 all-time high. So at that level, it does not yet trade at anIBD-style entry point. For those who want to go long, watch to see if anew bullish chart patternwill form.\nA big move in August back above the 10-week moving average (near 40) sparked a newfollow-on buy opportunityfor the intrepid investor. Plus, if one draws a trend line starting with the 64.96 high during the week ended June 18, a strong rally past 48 sparked an early entry too.\nThat trade, however, quickly turned sharply in the red.\nAMC is currently not a buy right now. Rather, the stock needs more time to build the right side of a brand new base andclear away an overhead supplyof willing sellers.\nWithout doubt, AMC is still building anew base. But it will need at least several weeks, if not months, for AMC to build theright side of that new base in bullish fashion. Watch for a potential handle to form, too.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":841743249,"gmtCreate":1635945720273,"gmtModify":1635945849511,"author":{"id":"3574074164934841","authorId":"3574074164934841","name":"Peachu","avatar":"https://static.tigerbbs.com/23ca28539b3f196b29c227a843d37679","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"TLDR: breaking triple digits soon","listText":"TLDR: breaking triple digits soon","text":"TLDR: breaking triple digits soon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841743249","repostId":1132636839,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":841563931,"gmtCreate":1635926340679,"gmtModify":1635926340791,"author":{"id":"3585042599146244","authorId":"3585042599146244","name":"plasticbag","avatar":"https://static.tigerbbs.com/75759bfc97d94798a8f93df583a58523","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Lets go to the moon","listText":"Lets go to the moon","text":"Lets go to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841563931","repostId":1132636839,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":841234304,"gmtCreate":1635913631989,"gmtModify":1635913632123,"author":{"id":"3581740492210669","authorId":"3581740492210669","name":"franklinzy","avatar":"https://static.tigerbbs.com/e7c48cf35ab3df2cea6e0458de0caf42","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Hodl","listText":"Hodl","text":"Hodl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841234304","repostId":1132636839,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":43,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.25.1","shortVersion":"4.25.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1132636839"}