AMC rebounds after falling for four straight days. Why one trader says 'stay away' (via TradingNation)
In addition to the company's business model, he pointed out a fundamental issue AMC continues to face.
Binger also commented on the idea that the company has been opportunistic, saying it "looks to take advantage of any of these pops in the stock to dilute shareholders further so they could shore up their overleveraged balance sheets and their lack of cash flow." JC O'Hara, chief market technician at MKM Partners, charted the big moves the shares have seen this year as a way to identify the next potential move.O'Hara pointed out that the name consolidated earlier this year, which resulted in a monster breakout, pushing the share price from $10 to $70.Since then, "we saw another round of consolidation, but what was different this time is we actually saw the stock break down," he said.
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