AMC Entertainment Holdings Inc AMC and AMC Entertainment Hldg Pref Equity Units APE shares are trading lower Friday morning. The company on Thursday announced an $85 million debt repayment. Shares could also be lower amid continued volatility in high-short interest stocks.
Both stocks are falling potentially amid ongoing profit-taking following Monday’s rally in high-short interest stocks. AMC also saw company-specific news as shares ran higher Monday after the company revealed it is planning to price theater tickets based on where its customers are seated during the movie.
Despite Friday’s selling pressure in AMC and APE shares, both stocks have seen strength and are still up 26.59% and 102.92%, respectively, on a year-to-date basis.
AMC, among other meme stocks, has seen marked, continued short squeeze volatility throughout 2023. According to data from Benzinga Pro, AMC stock has a total share float of 515.718 million, of which 118.270 million shares are sold short, representing 22.93% of shares sold short.
According to data from Benzinga Pro:
- AMC is trading lower by 9.34% to $4.86
- APE is lower by 11.40% to $2.41