OPINION: AMC’s apes went bananas for the movie chain’s stock Monday, despite a rough start to Christmas week for Wall Street—here’s why.
Indeed, fans of Marvel’s webslinging superhero might be forgiven for humming the theme song from the 1967 animated series because it certainly seems that Spider-Man is doing whatever a spider can…at least when it comes to hefting AMC Entertainment AMC, +1.99%’s shares.
For his part, Aron wasn’t shy about celebrating, using his fingers to brag before the opening bell on Monday that AMC welcomed 7 million customers to see Spider-Man over the weekend: iframe.twitter-tweet { width: 100% !important; } “Whoa Nellie” indeed was the vibe amongst retail traders on social media, who combined theories around the strong box office, an improving short squeeze opportunity, as a bull case for AMC over the shortened holiday trading week. The stock market is closed on Friday in observance of Christmas.
iframe.twitter-tweet { width: 100% !important; } AMC Apes, the staunchest supporters of the meme stock that has mostly risen on the back of social-media fervor over fundamentals, also continued to share a theory that millions of AMC shares are being bet against, or shorted, in dark pools. Those bullish investors maintained that holding AMC’s price above $26 a share would force those naked shorters into public exchanges, as the thinking goes.