It has been a crazy week for AMC Entertainment Holdings Inc (NYSE:AMC)’s stock with a continuous surge. The stock has closed higher for all the 3 trading sessions and on the verge of ending another green session.
AMC stock has soared almost 145% so far this week and made a new multi-year high of $29.75 in today’s trading session. The only reason for such a hefty rally is a short squeeze as Reddit traders continue to hype the stock and forcing short sellers to cover up their shorts.
Earlier this year, the stock made an all-time of $1.90 as there was all over panic selling among investors due to coronavirus scare. However, things turned up and the stock started to move up in late January along with GME.
So AMC stock has soared 1450% from its all-time low of $1.90 within just 4 months. At the time of writing, the stock is up 40.50% to $27.53 on the hefty volume of 487.77 million shares – 6X its average volume with 2 hours of trading still left.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.