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Tag: AMC stock

  • AMC Entertainment Stock Sees Dramatic Premarket Surge Amid Meme Frenzy

    AMC Entertainment Holdings, Inc. (NYSE: AMC) experienced a notable uptick last Friday, rising by over 2.3%. However, the real story unfolded after the trading bell rang, marking the start of an astonishing bullish rally in the after-hours market. By early premarket hours on Monday, AMC’s stock had surged an impressive 26.1%, reaching $5.46, up from its closing price of $4.23 on Friday.

    Bullish Momentum and Trading Volume

    The substantial premarket rally was accompanied by remarkable trading volume, with 29.7 million shares changing hands, indicating significant bullish sentiment among investors. This surge in volume and price suggests renewed interest in AMC, likely fueled by speculative trading and renewed interest in meme stocks.

    Despite the recent enthusiasm, analysts caution that the company’s substantial $9 billion debt and a 10% lower analyst target price could suggest a strategic moment for investors to consider selling amid the heightened volatility.

    Business Operations and Financial Challenges

    AMC Entertainment operates through its U.S. Markets and International Markets segments, owning, leasing, or operating theaters and screens across various countries, including the United States, the United Kingdom, Germany, Spain, and several others. Despite its extensive operations, the company faces significant financial challenges.

    S&P Global Ratings recently downgraded AMC’s issuer credit rating to selective default from CCC+, following a debt-for-equity exchange involving 23.3 million shares of its Class A common stock. S&P views this transaction as distressed, highlighting concerns about AMC’s unsustainable capital structure and default risk due to its heavy debt burden and negative free operating cash flow.

    Conclusion

    While AMC’s premarket surge and trading volume have captured investor interest, the underlying financial issues and recent credit rating downgrade highlight the company’s precarious position.

    The fleeting resurgence of meme stocks, including AMC, underscores the volatile nature of such investments. As excitement fades, investors might consider reassessing their positions, balancing the potential for short-term gains against the company’s long-term financial stability challenges.

  • AMC Entertainment Holdings Inc. (AMC) stock Further Up After Hours. Here’s why?

    On March 22, AMC Entertainment Holdings Inc. (AMC) had another day of trading in the green with gains in both regular and after-hours sessions. The stock has been trending actively since the company announced its surprise and unorthodox move of investing in Hycroft Mining. Moreover, the company recently increased its ticket price for the new Batman movie which also paid off.

    During the regular session on Tuesday, the stock surged by a nice 15.13% which was followed by a further gain of 10.84% in the after-hours. Closing at a price of $18.26 per share, AMC shot up to $20.24 per share in the after hours. Both the sessions witnessed active volume with 81.8 million shares and 6.08 million shares in the regular and after-hours trading, respectively.

    Founded in 1920, AMC Entertainment Holdings Inc. owns 1000 theaters and 10,700 screens worldwide. Currently, the company’s 516.78 million outstanding shares trade at a market capitalization of $8.2 billion.

    Source: Hedge Think

    AMC’s Investment in Hycroft

    On March 15, the company announced its plan to invest in the precious metals (gold & silver) mining company, Hycroft Mining Holding Corporation (HYMC). Hycroft holds the Hycroft Mine in Nevada, which has over 15 million ounces of gold resources and nearly 600 million ounces of silver.

    Through an investment o $27.9 million, AMC received 23.4 million units consisting of a common share of Hycroft and a common share purchase warrant. Priced at $1.193 per unit, the company received the units in a private placement closed on March 15.

    In addition, Eric Sprott, one of the world’s leading gold and silver investors, also made the same investment in Hycroft as AMC. Thus, the combined investment in Hycroft was $56 million from AMC and Mr. Sprott.

    Strategic or Bananas?

    While most are considering the theater owner’s investment in mining a bananas move, some do praise it for being logical. While the surge in gold and precious metal prices could justify the move as sane and logical, there are various factors to call it to bollocks. Hycroft mining has been struggling with keeping its only mine up and ruining lately. As of now, HYMC is not an active miner as it ceased operation at the mine last November. Claiming to plan to build a mill for gold and silver sulfide ore processing, HYMC hasn’t even done a feasibility study. But, HYMC does have solid assets and who knows with this investment it just might be up and running sooner than expected.

    Furthermore, according to AMC’s CEO Adam Aron, the company’s own challenging course has enlightened it towards helping other businesses on the verge of going down

  • AMC Entertainment Holdings, Inc. (AMC) gained in the Pre-market; here is why?

    AMC Entertainment Holdings, Inc. (AMC) gained in the Pre-market; here is why?

    AMC Entertainment Holdings, Inc. (AMC) stock gained in the pre-market after the company announced its preliminary results for the fourth quarter of 2021. AMC values at around $17.92 in the pre-market, gaining more than 11.58% from the previously closed value. At the end of the last trading session, the stock closed at $16.06. The stock volume traded in the previous trading session was around 48.45 million shares.

    AMC Entertainment Holdings, Inc. (AMC) fourth-quarter preliminary results

    • AMC expects revenue of $1.171 billion in the fourth quarter of 2021. The revenue in the last year’s fourth quarter was around $162.5 million.
    • AMC expects a net loss of between $194.8-114.8 million. Last year’s net loss in the fourth quarter was around $946.1 million.
    • The company expects adjusted EBITDA between $146.8-151.8 million in the fourth quarter of 2021. In 2020’s fourth quarter, the adjusted EBITDA loss was $(327.5) million.
    • The company expects operating cash of $216.5 million in the fourth quarter of 2021.
    • At the end of the fourth quarter of fiscal 2021, the company had around $1.5925 billion in cash and cash equivalents. The company has $1.8016 billion worth of liquidity left.

    According to the AMC, they closed the year with their best quarter in more than two years. With outstanding EBITDA of more than $145 million, better-than-expected Operating Cash Created of more than $215 million, and a record year-ending cash position of $1.8 billion, the fourth quarter of 2021 represents a significant milestone.

    The effect on the AMC stock

    AMC Entertainment Holdings reposts outstanding performance in the fourth quarter of 2021. Investors respond positively to the news and take immense interest in its stock. The price may increase in regular trading as most traders prefer to trade during the regular trading hours.

    Conclusion

    AMC Entertainment Holdings, Inc. has provided some crucial data regarding its performance and has recovered a lot since the pandemic in 2020. Last year was terrible for the business. But the last quarter of 2021 represents that the company is bouncing back and will be profitable soon.

  • AMC Entertainment Holdings, Inc. (AMC) Stock Plunged on Wednesday, Here’s the Reason

    AMC Entertainment Holdings, Inc. (AMC) Stock Plunged on Wednesday, Here’s the Reason

    AMC Entertainment Holdings, Inc. (AMC), a company involved in the theatrical exhibition business, has gained an increase of 4.38% in aftermarket trading session. Consequently, AMC is trading at $29.82 at the time of the writing. On Wednesday, AMC closed the day at $28.57 after depreciating 15.82% during regular trading hours. The decline was attributable to the detection of Omicron variant in California.

    Why AMC Plunged?

    On Wednesday, Center for Disease Control and Prevention (CDC) announced that the first case of Omicron variant, the mutated form of COVID-19 and first found to exist in South Africa, was detected in California. The stock slid over the concerns that the variant could disrupt normal and daily life. The company closed its operations temporarily during the period of the COVID-19 pandemic. However, since the reopening of businesses, as a result of the subsiding effects of pandemic, AMC stock was on a wild ride. But with the announcement of the deadlier variants existent in California, AMC stock plunged during Wednesday’s regular trading hours.

    Q3 2021 Operational Results

    On 8th November, AMC released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th September. The company generated total revenue of $763.2 million during the quarter against $119.5 million for the same quarter of 2020. The total operating expenses for the period were $908.4 million against $794.9 million for the same period of 2020. The net loss suffered by the company during the three-month period was $224.2 million (or $0.44 per basic and diluted share) against $905.8 million (or $8.41 per basic and diluted share) for the same period of 2020.

    Executive Commentary

    Adam M. Aron, Chairman of the Board, Chief Executive Officer, and President of AMC, while commenting on the results said that since coming out of pernicious effects of the pandemic, the company has performed tremendously well, as evident from the comparison of the same periods of fiscal 2021 and 2020. He hoped that the company would continue to perform in a similar fashion during future quarters as well.

    Future Outlook for AMC

    During the last three months, AMC stock has declined approximately 35%. The reason for that could be the uncertain times, as the different variants of the pandemic are taking shape, which in turn is making investors around fearful of investing, just like the recent wave of Omicron variant has caused havoc for markets around the globe. However, just like it rose in the past, analysts are hopeful that AMC has the capacity to attract investors in the future.

  • AMC Entertainment Holdings, Inc. (AMC) Stock Rebounds from Four Consecutive Days of Downward Spiral

    AMC Entertainment Holdings, Inc. (AMC) stock prices were up 9.72% shortly after the trading day commenced on July 15th 2021, signaling a recovery from a steep decline over the past few days. The stock currently sits at a price of USD$36.68.

    AMC Stock Price Fluctuations

    AMC Entertainment share prices were down significantly on Wednesday, July 14th, 2021, trading below half of its recent peak prices, putting retail investors to the test. July 15th, 2021 saw the stock recover from four straight days of losses, having closed at USD$33.43 before the resurgence. This represents a 54% decrease from its all-time high of USD$72.62, which it hit in early June of 2021. The stock fell to USD$33.25 in the past several weeks, its lowest point since June 1st, 2021.

    Meme Stock Phenomenon

    AMC has been at the focal point of the recent meme stock phenomenon that has been proliferating the markets as of late, marking the rise of the retail investor as bearish hedge funds bear the brunt of the movement. Its status as a meme stock has seen the stock sit at a price 1476% higher than its price from a year ago. Shareholders are concerned that the dip in performance would start a snowball effect as investors lose confidence and jump ship, fearful of further losses.

    Post-Pandemic Economy

    The decline in AMC equity value came in spite of a strong weekend at the box office, when Walt Disney Co. and Marvel’s collaborative superhero adventure movie, Black Widow, garnered USD$80 million in what has been the biggest opening weekend for a movie since the onset of the global coronavirus pandemic. Disney generated an additional USD$60 million globally from direct-to-consumer sales via its streaming service, which has become a major competitor for movie theaters.

    Expected Financials

    The company expects to report USD$3.16 in adjusted loss per share on revenue of USD$2.41 billion. As of the close of the trading day on July 13th, 2021, 16% of the companies shares were sold short, coming out to a total of 78 million shares. This is comparable to the 75 million shares sold short as of June 30th, 2021.

    Future Outlook for AMC

    Armed with the recent recovery of its stock value, AMC is poised to capitalize on the resurgence of the momentum that has carried the company through a stellar and fortuitous year. The company is keen to leverage its resources to drive in sustained and organic growth as the culmination of the global pandemic looms closer. Investors are hopeful for significant and sustained increases in shareholder value over the long term.

  • Were There Any Significant Reasons Why The AMC Stock Declined Afterhours?

    AMC Entertainment Holdings Inc. (AMC) shares sank -5.59% to $37.15 in after-hours trading. The AMC stock price closed Tuesday’s session at $39.35, down -7.65%. AMC stock volume was 83.8 million shares, which was about half of the average daily volume of 192.16 million shares within the past 50 days.

    Within the last 12 months, AMC shares have moved up by 823.71%, but over the past week they have moved down by -21.24%. The stock of AMC gained 345.14% over the past three months, while it lost 1688.64% over the past six months.

    Furthermore, AMC has a current market capitalization of $20.49 billion and 520.79 million outstanding shares. AMC is gradually losing ground and has lost a significant amount of the gain realized in the past few months for being the meme stock.

    Recent developments:

    With nearly 950 theatres and 10,000 screens worldwide, AMC is the largest movie exhibitor in the United States, in Europe, and for the worldwide market. By deploying its Signature power-recliner seats and enhancing its food and beverage offerings, AMC has led the way in innovation in the exhibition industry. In addition to offering large format experiences and TV programming, AMC has a loyalty program and subscription programs, as well as web and mobile apps.

    This past weekend, AMC Theatres broke all of its previous post-reopening attendance records, announced the company in a press release.

    • AMC experienced its busiest weekend in 16 months for the third time in three weekends, and for the second time since Memorial Day weekend.
    • From Thursday, July 8 to Sunday, July 11, roughly 3.2 million people watched movies at AMC theatres in the United States and abroad.
    • BLACK WIDOW topped the box office in the United States and Canada over the weekend, earning an estimated $80 million, breaking the record of F9 two weekends ago.
    • In addition to BLACK WIDOW’s performance, the industry saw its first $100 million weekend since early 2020 when nine other top 10 films performed well.
    • There are eight AMC theatres in the US ranked in the top ten busiest movie theatres across the entire industry.
    • AMC Burbank 30, a cinema complex in Burbank, Calif., came in first.

    Record number of guests at AMC:

    AMC hosted 2.5 million guests from Thursday through Sunday, setting yet another record in the United States. AMC theatres in Europe and the Middle East welcomed more than 650,000 international guests in the post-reopening period which is an another record-breaking number. Including the U.S., AMC’s global attendance of approximately 3.2 million for this past weekend, Thursday to Sunday, at home and abroad, is encouraging.

  • Early Morning Vibes: 4 Stocks You Should Watch Immediately

    Early Morning Vibes: 4 Stocks You Should Watch Immediately

    The S&P 500 rose 1.14% to 3,925 points yesterday while the Nasdaq 100 was up only 0.81%. Over the years, the Nasdaq 100 has actually become more volatile than the S&P 500. This higher beta now appears to have temporarily disappeared. In the article about sector rotation , you can read how you can apply the sector rotation to your portfolio yourself. The Dow Jones also rose noticeably more than the Nasdaq 100 and S&P 500 yesterday. The Dow closed at a new all-time high of 31,961 points, which was a daily result of plus 1.35%. The strong rise of heavyweights Boeing and Chevron was the basis here.

    In short, some of the money that is used to help people and companies in difficulty ends up on the stock exchange. Higher liquidity usually means higher stock market prices. Central bank policies have an inflationary effect on stocks and other assets such as real estate. The survey also shows that investors are extremely positive about the stock market. At the same time, we hear Charlie Munger, the strong man next to Warren Buffett, warn of a new bubble. This brings us straight to GameStop. The share of the American computer game retailer exploded again yesterday. 

    The roll-out of the vaccination program appears to be gaining momentum. An interesting study has taken place in Israel on the Pfizer-BioNTech vaccine. Of course we already know the results of the clinical studies, but it is always a question of how well the vaccines hold up in real situations. The Israeli study followed 1.2 million people of which nearly 600,000 received the Pfizer-BioNTech vaccine. 

    Two shots were administered. The scientists were surprised that the symptomatic effectiveness was 94%. Hospitalization fell by 87%.Moreover, a quarter of the people who were followed were over 60 years old. Experts expect that with such results, we can achieve global immunity when 60 to 70% of the population is vaccinated. Pfizer stock did not respond to the news.

    Today Top Movers

    Cross Country Healthcare Inc. (NASDAQ: CCRN) shares are trading up 27.04% at $12.78 at the time of writing after releasing fourth quarter and full year 2020 financial results. 

    Sundial Growers Inc. (SNDL) stock soared 11.72% to $1.62 in the pre-market trading. SNDL and Indiva Limited announce the closing of the previously announced $22,000,000 strategic investment (the “Investment”) into Indiva by Sundial. 

    AMC Entertainment Holdings Inc. (AMC) grew over 17.49% at $10.68 in pre-market trading today as the social media hype was created recently to influence investors sentiment. 

    GameStop Corp. (GME), a Specialty Retail company, rose about 57.56% at $144.5 in pre-market trading Thursday as on social media, a hype has been playing key role to affect investors with the intent of swaying their decision.

    Top Upgrades & Downgrades

    UBS turned bullish on AstraZeneca PLC (AZN), upgrading the stock to “Buy”. 

    Sunrun Inc. (RUN) has won the favor of Credit Suisse’s equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $79.0, suggesting 26.28% additional upside for the stock. 

    Banco Bilbao Vizcaya Argentaria S.A. (BBVA) received an upgrade from analysts at Jefferies. They changed their rating on BBVA to Buy from Hold in a recently issued research note. 

    Earlier Thursday Credit Suisse reduced its rating on Lennox International Inc. (LII) stock to Underperform from Neutral and assigned the price target to $285. 

    Morgan Stanley analysts reduced their investment ratings, saying in research reports covered by the media that its rating for NeoGenomics Inc. (NEO) has been changed to Equal Weight from Overweight and the new price target is set at $14. 

    Analysts at BMO Capital downgraded Chuy’s Holdings Inc. (CHUY)’s stock to Market Perform from Outperform Thursday.

    Latest Insider Activity

    Hess Corporation (HES) Chief Executive Officer HESS JOHN B announced the sale of shares taking place on Feb 23 at $66.73 for some 200,000 shares. The total came to more than $13.35 million. 

    Fortive Corporation (FTV) SVP – Human Resources Walker Stacey A. sold on Feb 23 a total 24,259 shares at $67.23 on average. The insider’s sale generated proceeds of almost $0.12 million. 

    Chevron Corporation (CVX) Director HEWSON MARILLYN A declared the purchase of shares taking place on Feb 18 at $95.21 for some 3,200 shares. The transaction amount was around $0.3 million. 

    AIM ImmunoTech Inc. (AIM) CEO & President EQUELS THOMAS K. bought on Feb 24 a total 209,630 shares at $2.26 on average. The purchase cost the insider an estimated $25,000.

    Important Earnings

    Top US earnings releases scheduled for today include Moderna Inc. (NASDAQ: MRNA). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$0.35 per share from revenues of $279.41M in the three-month period. 

    Analysts expect Plug Power Inc. (NASDAQ: PLUG) to report a net income (adjusted) of -$0.1 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $87.32M. 

    Southwestern Energy Company (SWN), due to announce earnings after the market closes today, is expected to report earnings of $0.14 per share from revenues of $701.09M recently concluded three-month period.

  • Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    Early Morning Vibes: Don’t Miss On These 4 Growth Stocks

    On February 2, the American stock indexes finished trading in the green zone. The S&P 500 climbed 1.39% to 3826 points, the Dow Jones rose 1.57% and the NASDAQ rose 1.56%. The news background did not contain new drivers of movement, but risk appetite was increased due to the decrease in fears of an overbought market. All 11 sectors closed in positive territory. The finance sector-led growth with 2.46%, driven by a rebound in Treasury yields.

    Company news

    Uber (UBER: + 7%) today announced it has acquired the liquor delivery service Drizly for $1.1 billion in company stock and cash.

    Pfizer’s revenue (PFE: -2.3%) beat expectations, although EPS was weaker than consensus. The 2021 revenue forecast assumes strong sales of coronavirus vaccines.

    Results of oil giant BP (BP: -6.6%) were worse than expected in various segments, dividends were reduced by 50%.

    Today, world stock exchanges are showing mostly positive dynamics. The fight against the coronavirus remains in focus and the news on this front is mostly positive. The attention of international investors was attracted by the results of tests of the Russian vaccine Sputnik V, which revealed its high efficiency. In addition, the University of Oxford has published encouraging research results that indicate that the AstraZeneca vaccine not only prevents coronavirus disease but also reduces its spread by two-thirds. This is the first study to document that vaccine proliferation will lead to a rapid decline in disease incidence. In the United States, more than 7% of the population has already received the first dose of the vaccine, and the daily incidence of COVID-19 has rolled back to November levels.

    Quarterly results were published by 43% of companies in the S&P 500. At present, aggregate net income for the fourth quarter is expected to show growth YoY, while in October it was forecast to decline by 13% YoY. This signals that companies’ financials are showing an unexpectedly fast recovery. However, the optimistic expectations have already been partially taken into account in the quotes, as evidenced by the increase in the S&P 500 by 17% over the past three months.

    Sentiment Index

    The Freedom Finance Sentiment Index remains at 68 out of 100. The indicator reflects market participants’ hope for a global economic recovery in 2021. Concerns about the negative impact of the coronavirus pandemic are slowly diminishing with the prospect of mass vaccinations.

    Technical picture

    Technically, the S&P 500 is still bullish in the medium term. The broader market index has continued to rebound from the 50-day moving average, but the strength of this impulse is fading. In the short term, consolidation is likely, as the RSI indicator is in the neutral zone and indicates the equality of forces between the bulls and bears, while the MACD indicator remains in negative territory.

    Today Top Movers

    Sundial Growers Inc (SNDL) stock moved up 8.65 percent to $1.13 in the pre-market ‎trading. The firm recently revealed the closing of its US$100 million registered offering.‎‎
    ‎ ‎‎
    ‎AMC Entertainment Holdings Inc (AMC) stock ascended 8.44% at $8.48 in the pre-market trading today.‎‎
    ‎ ‎‎
    ‎Naked Brand Group Ltd (NAKD) an apparel manufacturing company, soared about 12.07% ‎at $1.02 in pre-market ‎trading Wednesday following the declaration of closing $50 million registered direct offering priced at-the-market.
    ‎ ‎‎
    ‎Cps Technologies (CPSH) share price jumped 21.75% to $8.45 during the early morning ‎trading session on ‎Wednesday.‎‎ The company recently declared receipt of a purchase order for HybridTech Armor© Panels to be installed as the strike face of advanced ballistic shields to support U.S. Navy CVN class ships.

    Top Upgrades & Downgrades

    Oppenheimer turned bullish on NXP Semiconductors N.V. (NXPI), upgrading the stock to “Outperform” and assigning a $210.0 price target, representing a potential downside of 18.5% from Tuesday’s close. 

    Nucor Corporation (NUE) has won the favor of Credit Suisse’s equity research team. The firm upgraded the shares from Neutral to Outperform and moved their price target to $63.0, suggesting a 24.85% additional upside for the stock. 

    Steel Dynamics Inc. (STLD) received an upgrade from analysts at Credit Suisse, who also set their one-year price target on the stock to $52.0. They changed their rating on STLD to Outperform from Neutral in a recently issued research note. 

    Earlier Tuesday Credit Suisse reduced its rating on SBA Communications Corporation (SBAC) stock to Neutral from Outperform and assigned the price target to $291.0. With shares trading at around $281.90, the Wall Street firm thinks SBA Communications Corporation’s stock could add than 3.23%. 

    JPMorgan analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Centennial Resource Development Inc. (CDEV) has been changed to Underweight from Neutral. 

    Analysts at JPMorgan ‎downgraded Cabot Oil & Gas Corporation (COG)’s stock to Neutral from Overweight Wednesday.

    Latest Insider Activity

    Moderna Inc. (MRNA) Andres Juan announced the sale of shares taking place on Feb 01 at $172.99 for some 5,000 shares. The total came to more than $0.86 million. 

    Visa Inc. (V) CHAIRMAN & CEO KELLY ALFRED F JR sold on Jan 29 a total of 163,112 shares at $197.73 on average. The insider’s sale generated proceeds of almost $1.78 million. 

    Surgalign Holdings Inc. (SRGA) Director STOLPER MARK declared the purchase of shares taking place on Feb 01 at $1.50 for some 16,667 shares. The transaction amount was around $25001.0. 

    Outlook Therapeutics Inc. (OTLK) Director Sukhtian Ghiath M. bought on Feb 02 a total of 10,820,630 shares at $1.00 on average. The purchase cost the insider an estimated $8.36 million.

    Important Earnings

    Top US earnings releases scheduled for today include Boston Scientific Corporation (NYSE: BSX). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.31 per share from revenues of $2.83B in the three-month period. 

    Analysts expect AbbVie Inc. (NYSE: ABBV) to report a net income (adjusted) of $2.85 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $13.7B. 

    eBay Inc. (EBAY), due to announce earnings after the market closes today, is expected to report earnings of $0.83 per share from revenues of $2.7B recently concluded three-month period.

  • Early Morning Vibes: The 4 Best Stocks To Buy Now

    Early Morning Vibes: The 4 Best Stocks To Buy Now

    Futures for major US stock indices are growing rapidly on Monday – on the first day of February, a correction is planned on the American markets after a noticeable decline on Friday, according to trading data.

    The dynamics of futures on Monday indicates that stock markets may start February with corrective gains after the major US stock indexes lost around 2% on Friday. The sell-off occurred on fears of abnormal volatility in the prices of individual stocks and some assets.

    In general, analysts expect continued growth in the stock markets on optimism with regard to the prospects for the economy.

    In this light, traders are waiting for new macro statistics. So, in the first hours of major trading on Monday, the American Institute for Supply Management (ISM) will publish the index of business activity in the US industry (ISM Manufacturing) in January. Experts believe that the figure dropped to 60% against 60.5% in December.

    In addition, investors continue to follow the corporate reporting season in the US: 111 companies from the S&P 500 will report this week. In particular, the markets are awaiting with interest the quarterly financial results of such large technology companies as Amazon and Alphabet, which will present their financial results after the closing of Tuesday trading.

    Today Top Movers

    Tuscan Holdings Corp (THCB) gained over 55.24% at $24.15 in pre-market ‎trading on Monday.‎‎

    ‎Sos Ltd (SOS) grew over 6.57% at $3.24 in pre-market trading ‎today.‎ The company recently revealed the development of cutting-edge series of security systems based on Blockchain and AI technology competing the initial phase of its Blockchain strategy.‎

    ‎Sundial Growers Inc (SNDL) stock moved up 8.53 percent to $0.88 in the pre-market ‎trading following the declaration of US$100 million registered offering.‎

    ‎Adamas Pharma (ADMS) is up more than 24.37% at $7.35 in pre-market ‎hours ‎Monday ‎February 01, 2021.‎‎

    Top Upgrades & Downgrades

    JP Morgan turned bullish on Anterix Inc. (ATEX), upgrading the stock to “Neutral” and assigning a $40.0 price target, representing potential upside of 10.23% from Friday’s close.

    PagSeguro Digital Ltd. (PAGS) has won the favor of JP Morgan’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $61.0, suggesting 24.62% additional upside for the stock.

    Nikola Corporation (NKLA) received an upgrade from analysts at Wedbush, who also set their one-year price target on the stock to $25.0. They changed their rating on NKLA to Neutral from Underperform in a recently issued research note.

    Earlier Monday KeyBanc reduced its rating on Lowe’s Companies Inc. (LOW) stock to Sector Weight from Overweight.

    KeyBanc analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Heartland Express Inc. (HTLD) has been changed to Sector Weight from Overweight.

    Analysts at KeyBanc downgraded Bed Bath & Beyond Inc. (BBBY)’s stock to Underweight from Sector Weight Monday.

    Latest Insider Activity

    AMC Entertainment Holdings Inc. (AMC) Director Silver Lake Group, L.L.C. announced the sale of shares taking place on Jan 27 at $16.05 for some 33,317,145 shares. The total came to more than $534.75 million.

    Gran Tierra Energy Inc. (GTE) 10% Owner GMT CAPITAL CORP sold on Jan 28 a total of 58,808,029 shares at $0.63 on average. The insider’s sale generated proceeds of almost $1.18 million. 

    FuelCell Energy Inc. (FCEL) CEO Few Jason declared the purchase of shares taking place on Jan 25 at $17.99 for some 11,000 shares. The transaction amount was around $0.2 million. 

    Intel Corporation (INTC) Chief Financial Officer Davis George S bought on Jan 26 a total 76,823 shares at $55.34 on average. The purchase cost the insider an estimated $503,317.

    Important Earnings

    Top US earnings releases scheduled for today include Otis Worldwide Corporation (NYSE: OTIS). It will announce its Dec 2020 financial results. The company is expected to report earnings of $0.59 per share from revenues of $3.36B in the three-month period. 

    Analysts expect ON Semiconductor Corporation (NASDAQ: ON) to report a net income (adjusted) of $0.28 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $1.36B. 

    NXP Semiconductors N.V. (NXPI), due to announce earnings after the market closes today, is expected to report earnings of $2.1 per share from revenues of $2.46B recently concluded three-month period.

  • AMC Entertainment (AMC) Avoids Bankruptcy as Shares Pop Up

    AMC Entertainment (AMC) Avoids Bankruptcy as Shares Pop Up

    AMC has been on a roll for almost a month now despite facing bankruptcy.

    AMC Entertainment Holdings (AMC) has almost rattled the shadows of bankruptcy after obtaining $917 million in fresh capital. AMC stock has been on a continuous bull run for almost a month now.

    The short-traders has massively triggered the stock price in the recent trading sessions. Many individual traders have made stock purchases on Reddit in an attempt to pressure short-sellers—thus pushing AMC to skyrocket.

    What’s Next?

    The big news for AMC Entertainment (AMC) is that it has secured $917 million in fresh capital to avoid bankruptcy. The company has enough funds now to keep up with its financial needs—deep into 2021.

    The company also revealed that it has raised commitment letters to receive $917 million of new equity and debt capital since December 14, 2020. AMC intends to use $506 million of the new capital to be raised from the issuance of 164.7 million new common shares, in addition to the $100 million of first-lien debt.

    Mover, AMC has also obtained commitment letters worth $411 million of incremental debt capital through mid-2023. The CEO of AMC, Adam Aron highlighted that they collected $1 billion cash between April and November last year via debt and equity raises, with a handy amount assets sale as well. This means that the company is off and running as the fear of bankruptcy remains no more.

    With the recent capital funding, the company expects business operations to be back working with full potential. Furthermore, the company is in talks with theatre landlords about the amounts and timing of owed theatre lease payments.

    Things are shaping up well for AMC and will get better once the business activities resume to their full capacity—with COVID restrictions lowering down.

    The recent push in the stock price is also supported by the heavy trading volume of short-sellers. The stock is in a random bull run that is skyrocketing shares price. As we write during pre-market, shares of AMC have soared 143.93% to $12.05. This jump is quite extravagant as the stock is up from its prior close of $4.96.

    Conclusion

    The bankruptcy threat is over and the capital funding solidifies AMC’s liquidity and financial position. Though the stock price is supported and pumped by the Reddit battle of short-sellers pressured to buy the shares in recent trading sessions. Currently, AMC Entertainment’s stock is trading at more than doubled price—in a gap of a single trading day. So, it will pull back to its real price once the Reddit bulls go away.