- July 3, 2021
- Posted by: Stratford Team
- Category: Business
Host of ‘Trey’s Trades’ on YouTube Trey Collins analyzes AMC’s market value over the past week and discusses possible penalties for naked shorting.
AMC Entertainment shares closed down 4% on Friday after short-seller Iceberg Research tweeted that it had made a bearish bet against the theater chain operator’s stock.
The so-called meme stock closed at $51.96 after falling almost 12% to $47.77 in morning trading after Iceberg’s tweet that it had sold the shares short, which involves borrowing shares with a view to buying them back at a lower price to cover the bet.
“Our position is based on the fundamentals of the company and the fact its stock price has been inflated by call options, which is always temporary,” said Iceberg’s Arnaud Vagner in an email to Reuters.
AS AMC CEO TOUTS RECORD BOX OFFICE WEEKEND RETAIL INVESTORS QUESTION NEED FOR NEW STOCK
Bearish investors forced to unwind their bets in the face of a rapidly rising stock price have helped…
