Long Position on AMC @ $5.50 on 5/12/2020 (Rumor)

AMC Entertainment Holdings, Inc. (AMC), through its subsidiaries, is involved in the theatrical exhibition business.

The company owns, operates, or has interests in theatres. As of March 17, 2020, it operated approximately 1,000 theatres and 11,000 screens in the United States and internationally. The company was founded in 1920 and is headquartered in Leawood, Kansas. 

AMC Entertainment Holdings reported Quarter December 2019 earnings of $0.35 per share on revenue of $1.4 billion. The consensus earnings estimate was $0.08 per share on revenue of $1.4 billion. Revenue grew 2.4% on a year-over-year basis.

This stock reports earnings on May 28th.

This stock should see a heavy volume in stock price as Amazon continues to express buyout interest. This stock shot up 29.75% yesterday, May 11th. Please note, AMC has not yet released a statement on this news.

Entry point: $5.50

52-week trade range: $1.95 - $13.75

Stop/Loss: $5.00

Target Price: $6.25

Updates

6/8/2020 9:32:30 AM

AMC closed at $6.40

Position closed on 6/8/2020 at price of $6.40 with a 16.36% gain in 27 days.

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