AMC Chief Executive Adam Aron, took to Twitter to fuel enthusiasm for the new shares, claiming that AMC’s value will be equal to its own value plus the new APE share’s value. In the meantime, Gareth Soloway, Chief Market Strategist of InTheMoneyStocks.com, discussed the market outlook with Kitco News, with a special focus on AMC stock and how investors should have traded the news of the new shares being issued.
AMC chart and analysis
In the last month, AMC has been trading in a wide range from $10.30 to $27.50, with prices falling strongly in the last few trading sessions. Technical analysis indicates a support zone from $10.36 to $10.45, and at the moment, the stock does not present a quality setup for potential investors to get in. TipRanks analysts have a moderate sell’ rating consensus, seeing the average price in the next 12 months reaching $7.50, –28.30% lower than the current trading price of $10.46; notably, no analysts have given a buy rating.
Meme and crypto
Additionally, Soloway touched on the cryptocurrency markets along with AMC and the stock market, indicating that there is certainly a connection between the crypto and stock markets. The ‘meme stocks’ and their rise and fall could exert a more significant gravitas on the broader markets, hitting cryptos and other stocks alongside it. Earlier this month, Kevin Wadsworth and Patrick Karim, technical analysts of Northstar & Badcharts, had stated that a few of the cryptocurrencies are already losing momentum and appear to put in their highs for what he calls “a bear market rally,” Wadsworth added, “we’re either at or very close to those um those peaks at the moment.” The two analysts also agreed that cryptocurrencies and Bitcoin are a play on tech stocks. Owing, in part, to the fact that crypto hasn’t been around for a long time. As a result, it’s difficult to anticipate how they will react, if, and when the stock market will embark on a much longer and more significant downturn. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
