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In a report from “The Bear Cave” published on Thursday, Edwin Dorsey scrutinizes AMC Entertainment (NYSE:AMC), the world’s largest movie theater chain, highlighting significant concerns about the company’s financial health and recent stock movements.
Despite a recent doubling of AMC’s stock price, Dorsey said the company remains “consistently unprofitable, deeply indebted, and highly dilutive.” He starkly describes AMC as “a dead company walking.”
Benzinga has reached out to AMC for comment on the report.
The report emphasizes the role of social media influencers in the recent stock surge. On May 8, Edward Constantin, known as @MrZackMorris, tweeted “AMC” with a meme. Constantin has a controversial history, having been charged in 2022 in what the SEC called "a $100 Million Stock Manipulation Scheme," Dorsey said.
The scenario shifted on May 12, when Keith Gill, also known as @TheRoaringKitty, tweeted a meme after three years of inactivity. Gill, famous for his deep-value investment style and significant role in the GameStop saga, sparked massive speculation. His tweet was viewed over 26 million times. Dorsey said: "None of Roaring Kitty's posts this week or in past years have ever mentioned or alluded to AMC."
Dorsey outlines several reasons why AMC is unlikely to see sustained gains:
Dorsey adds that while the speculative surge in AMC's stock has drawn attention, the company’s long-term viability remains dubious.
"AMC stock is down ~90% over the last five years and down ~50% since January 1, 2021," he said. By comparison, GameStop has seen substantial gains over the same periods.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock.
Posted In: AMC