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(Updated) AMC Entertainment Earnings Preview: 'Will Wen Pounce?' Maybe Today

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update: AMC shares rose another 2.6% to $18.58 on Thursday morning. Expectations for second quarter earnings expected post-earnings are clear. Nowhere is that excitement more present than in the options market. About 17,500 contracts with a $20 strike price expiring on Friday have already traded. The latest price was $0.67 per share, or $67 per 100 share contract. Call buyers want the Mother of All Short Squeezes (MOASS) to start properly after expected earnings are beaten. The $17.50 put, which also expires on Friday, had 2,568 contracts traded this morning at a closing price of $0.60.

  • AMC shares closed 8% higher on Wednesday as Wall Street welcomed a solid earnings report.
  • AMC apes expect a ‘pounce’ on earnings delivered after Thursday’s close.
  • The theater company’s stock rose 4.9% to $17.51 ​​in Thursday’s premarket, showing MOASS in sight.

Friends, the day has finally come. AMC Entertainment (AMC) will release second quarter earnings after the close of trading on Thursday. That’s right, this is the same earnings report his AMC ape Majesty prophesied. CEO Adam Aron.

read also: AMC Stock Extends Recovery Rally Towards $20

It was July 7th when Aron released a very important tweet.

“Wen Pounds?” point to the legend MOASS: the mother of all short squeezes. AMC Apes believe it AMC stock has yet to experience the largest short squeeze. of course, Moas It won’t necessarily happen on August 4th, but at least it will happen after this date, Aron said. Short his volume on AMC stock appears to be around 19% based on the latest estimates. I have one more question. When will the apes attack?

AMC’s price/earnings

Wall Street Consensus Marks AMC’s Second Quarter Adjusted earnings per share of -$0.23 on revenue of $1.18 billionAnalysts were mixed on their pre-release outlook, with two upward revisions to both EPS and earnings, three downward EPS revisions and four downward earnings revisions in the last quarter. It’s a mixed bag. significantly, AMC has outperformed and underperformed its last four quarters.

Earnings EPS of AMC

Chart: SeekingAlpha.com

AMC Earnings It’s certainly recovered faster than expected over the past year, with earnings forecasts up 166% year-over-year for the second quarter. Bulls expect a strong quarterly movie series to help AMC beat the streets. During the second quarter, AMC would have screened all three of the top-grossing films of the year so far. Top Gun: Maverick It earned $1.32 billion worldwide in ticket sales.Second place Doctor Strange in the Mad Multiverse 3rd place with a staggering $955 million worldwide revenue jurassic world dominion It has raised $943 million worldwide.

IMAX CEO Richard Gelfond In a recent interview, he said his company was running only 5% in the same period in 2019 before the pandemic. If that’s the case with AMC, the company can expect $1.43 billion in revenue for him.

AMC stock price forecast

AMC stock It is already up 5% in Thursday’s premarket to $19.13. His 8% gain on Wednesday broke the minimum resistance of $17.50. That rally closed just below his $18.37 target. As I wrote yesterday, “Right now, the bulls are mostly looking to overtake the July 21st high of $18.37.”

The next target is the supply range between $19 and $21. This area was difficult to breach in February.

AMC stock price Support is at the crossing of the 9th and 21st moving averages near $15.30 and then at the long-term support trendline of $14. That trendline he started moving up on May 12th, so it’s been almost three months and will be pretty hard to break in the short term.

AMC Stock Daily Chart

AMC daily chart

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