AMC Entertainment Holdings Inc.; Wall Street's Most Beloved Stock

Retail traders drive AMC to new heights

AMC Entertainment Holdings Inc. (AMC) has become the most popular stock on the infamous WallStreetBets subreddit, dethroning previous favorite GameStop Corp. (GME). The stock has seen a surge in interest from retail traders, who have been pushing it higher in recent weeks. On Friday, AMC shares reached a high of $36.35, before closing at $34.61. This represents a gain of over 1,000% since the start of the year.

Short sellers take a hit

The rise of AMC has been a major headache for short sellers, who had been betting against the stock. As the stock has continued to rise, short sellers have been forced to cover their positions, which has led to even more buying pressure. According to data from S3 Partners, short sellers have lost over $1 billion on AMC this year.

What's next for AMC?

It is difficult to say where AMC will go from here. The stock is currently trading at a significant premium to its fundamentals, and it is possible that it could correct at some point. However, the retail traders who have been driving the stock higher are showing no signs of slowing down. It is possible that AMC could continue to rise in the short term, but investors should be aware of the risks involved.

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