Everyone’s cousin & their buddies is trading $AMC today not because it’s a great company, but because they “like the stock” or they heard it from someone that it’s going to be the next “GME Mayhem”
What’s Happening Right Now: $AMC opened up this morning with almost $37 per share, & ended the day with $26.12. After GME, This has been the most hyped stock of 2021.
Can $AMC cross $100?: Retail traders get very happy when they see a stock going up but panic when there is a small pullback. This is pretty “healthy” for a stock that’s way out of its price range. If retail traders continue to hold and “buy these dips”, we see an opening of about $40 on the next trading session & follow it by about $100 Price target if it continues to gain the same momentum.
When should you sell $AMC: We recommend you take your initial investment out so, that you are playing on the “house money”, because like we said, AMC is not up because they are a good company or they have a great future, It’s going up because retail traders decided to play the “Hedge Fund game” (Read More) We recommend selling another 50% when it goes to $50 and Rebuying the same shares back at a cheaper price, and keep doing it till it reaches the price where you are comfortable selling it all. Just keep in mind that, $AMC’s fundamentals are not great, actually, it’s pretty bad. There is also a chance that the insider owners might dump their shares because they know this price is too good to last forever.
Or you could keep holding and praying. This is also a good strategy, we just think it’s not a wise one.
Disclaimer: Investment is risky. Please do your own research. We are not responsible for your losses/gains.