AMC Investors Dig in Their Heels as Stock Tumbles

AMC Investors Dig in Their Heels as Stock Tumbles

Meme stock AMC Entertainment may be trading below the USD 50 threshold, but retail investors are keeping their chins up. They vow to hold on for what could be the pinnacle of all short squeezes in which hedge funds are forced to cover their bearish positions by buying shares and potentially sending the stock price soaring.

One widely followed analyst whose Twitter account is BAM Investor predicts that AMC will reach new all-time highs in August. His followers are divided on whether or not to bet on it, with some preferring that he not reveal dates so as not to tip their hand to short-sellers. In the interim, AMC shares remain under pressure and have shed 8% today.