AMC Stock seems to be slowly making its journey back to all-time highs. The Stock might still seem a fair amount off the highs, but CEO of AMC Ent Adam Aron put things into perspective with this tweet. The AMC Shareholders love when CEO Adam Aron stands up for the company and it really seems to bring the community together even more.
Adam Aron tweeted: “Some seem to enjoy reporting AMC is off its all-time closing price high, 6/2/21 $62.65. They fail to report close yesterday was 7 TIMES what it was when the pandemic closed theatres, 3/16/20 $3.19, or 11 TIMES when we were written off for dead, 1/5/21 $1.98 #TellTheWholeStory“
AMC Stock has proved time and time again that it can start to rally with little to no warning. In the past few months AMC Stock has seem massive volume spikes and rallies and even halts which stopped the momentum.
The Buy Button of AMC Stock has been turned off multiple times before. A few months ago, AMC stock was halted another time. It seems that every single time AMC Stock gets the buying pressure it needs to take off, the NYSE halts the stock which pushes it back below until the next run.
WALL STREET MADE A BAD BET
The opportunity for upside potential with AMC Stock is still on the table. The AMC ‘Apes’ are holding strong and buying more during any dip opportunity. After the Q2 earnings and the $APE Dividend was announced the Apes feel as if the deal has been sealed for a massive, short squeeze coming soon.
AMC ENT. currently has approximately $5.5 billion in outstanding debt which has been a main concern for AMC , the investors and even the naysayers. “We suspect management is targeting leverage at 3x – 4x AEBITDA [adjusted earnings before interest, taxes, depreciation and amortization]. FY24 consensus is for $660M in AEBITDA, which would translate to a total debt target of $2.3B, which would imply a total debt reduction target of $3.2B,” he added.