In the filing, however, the company also cautioned against the investment, saying that"under the circumstances," people should only buy into the stock if they are"prepared to incur the risk of losing all or a substantial portion" of their investment.
The company cited a glut in short interest, access to margin debt, options trading and the bullish sentiment among retail investors as reasons for current trading prices before warning that gains driven by a short squeeze would be"inflated" until short positions abate—something thatAMC shares, which last closed at $62.55, were down about 10% Thursday at 10:20 a.m. after bouts of intense volatility that led exchanges to halt trading twice; the stock at one point plunged more than 30%.
in a Wednesday note."This now looks like a flawed strategy." Short-sellers betting against AMC lost an estimated $2.8 billion on Wednesday alone, according to Ortex.Key Backgroundsurge in January, when activist investors perched on Reddit's r/WallStreetBets board pumped struggling firms like AMC, GameStop and BlackBerry in a bid to hurt short-sellers—fueling what's known as a short squeeze.
their short bets after weeks of meteoric gains. Thus far, only AMC, which has also benefited from broader optimism over businesses reopening, has recouped those losses. AMC Skyrockets To New Record High After Announcing Perks Geared Toward 'Extraordinary' Individual Investors
Umm the sale went through in April 🙃
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