AMC update / analysis [6/28/24]
June 28, 2024
The current price of AMC before opening is $4.76 cents. The stock is looking to be in better shape than it was a few days ago. It dropped down to the $4.30 range but It did not break that support. If it would have I believe and I said previously it would go down to $3. Since this didn’t happen I’m assuming hedge-funds are running low on Ammo. If so that’s good news for AMC shareholders.
Personally I think the stock will be in a good position if it makes a run for the $5 mark. I think the stock will meet a lot of resistance at that point. As far as a potential short squeeze goes if it breaks $5.30 anything can happen in my opinion. For whatever reason the hedge-funds seem dead set on keeping this stock at the $5 mark bare minimum.
As I am invested in the stock I will continue to track it.