AMC - Possible Short Sqeeze Coming!
This looks like a bottom for AMC. The shorts aren't running yet, but it looks like it's setting up to squeeze them.
The financials are still horrible, but this is just a technical play on a meme stock.
This is the key to this play: AMC Hldgs's short percent of float has risen 7.31% since its last report. The company recently reported that it has 53.05 million shares sold short, which is 13.94% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.53 days to cover their short positions on average.
Remember: there's a debt conversion to stock at $5.66 so if it does get to $5.55 reverse and go short.
This is not investment advice, I'm just a village idiot that likes to think out loud.
The financials are still horrible, but this is just a technical play on a meme stock.
This is the key to this play: AMC Hldgs's short percent of float has risen 7.31% since its last report. The company recently reported that it has 53.05 million shares sold short, which is 13.94% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.53 days to cover their short positions on average.
Remember: there's a debt conversion to stock at $5.66 so if it does get to $5.55 reverse and go short.
This is not investment advice, I'm just a village idiot that likes to think out loud.
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