AMC STOCK ILLEGALLY HALTED DURING RECENT SQUEEZE?

AMC Stock was recently halted during Tuesday’s trading session. This came after a recent surge in AMC’s share price. AMC has been coming off of a stacked list of bullish catalyst including the new sucess of the company $HYMC Hycroft mining that Adam Aron the CEO of AMC announced an investment in. CEO Adam Aron announced a few weeks back via Twitter that AMC is purchasing a 22% stake in the gold and silver miner company, Hycroft Mining Holding Corp (HYMC). The last thing the retail investors were planning for is a trading halt in which would likely kill any sort of momentum and FOMO the stock was experiencing pre halt. The halt obviously completely crushed the momentum Tuesday morning. In the chart below you can see the one-minute candle surged to $34.33 per share until being halted for a matter of a few minutes. Once unhalted AMC’s share price dropped below the previous candle’s low.

Source: TD AMERITRADE

Could this trading momentum AMC had before the halt have been the energy AMC needed to finally reach new all-time highs? Trading halts are defined on Wikipedia as ” trading halt occurs in the U.S. when a stock exchange stops trading on a specific security for a certain time period. The halt, which can happen a few times a day per security if FINRA deems it, usually lasts for one hour, but is not limited to that. Trading halts can happen any time of day.” If you have been involved in the stock market for a while, you know trading halts are somewhat common when trading stock that are extremely volatile. On top of that it is clear that normally when a stock is halted it creates a pause for investors to gather their thoughts and often results in the stock tanking post halt. The AMC retail investors are fed up with trading halts and other restriction placed in the stock, especially after what happened in early 2021 when many trading brokers even took away the ability to buy more shares of AMC Stock all together. This begs the question many retail investors have been discussing on twitter and reddit… Were these trading halts illegal? Were these trading halts even necessary at all?

Source: Fox Business

In January of 2021 when many of these ‘meme stocks’ were halted it sent millions of retail investors into panic as they were watching what they thought to be manipulation of the stock market taking place right in front of their own two eyes. Retail investors were not allowed, prohibited from purchasing a number of stocks on a list full of stocks including AMC. When it is all said and done it does seem as if the market makers have something against AMC Stock, and it becoming the powerhouse of a stock and company that the Apes are hoping for.

READ MORE: NEW AMC STOCK “GLITCH” SHOWS $458.96 SHARE PRICE

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