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AMC Entertainment Holdings, Inc. (NYSE:AMC) shares are trading higher Friday, and the stock is up nearly 20% over the past five days. Here's a look at what's going on.
What To Know:
Wedbush analyst Alicia Reese maintained a Neutral rating on AMC Entertainment and lowered the price target from $6 to $4 on Thursday. The analyst noted improving box office trends, yet said that the company's heavy debt load overshadows the positives.
Retail investors have reignited interest in AMC, and the stock is frequently trending and moving on heavy trading volume. According to data from Benzinga Pro, more than 12.22 million shares have already been traded in Friday's session, on track to surpass the stock’s 100-day average of 14.907 million shares.
AMC shares are trading below the stock’s 50-day moving average of $3.98 and 16.11% of shares are being sold short, according to data from Benzinga Pro.
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AMC Price Action: According to Benzinga Pro, AMC Entertainment shares are up 6.68% at $3.11 at the time of publication Friday.
Image: Sergei Tokmakov from Pixabay
Posted In: AMC
