5 Reasons AMC Stock Is Still Dead Money
Following in the footsteps of GameStop, AMC Entertainment (NYSE: AMC) stock has become one of the biggest winners in the epic short squeeze initiated by traders on Reddit.
The stock finished the week nearly 300% higher and even cracked the $20 a share mark for a moment on Wednesday. CEO Adam Aron's announcement that bankruptcy was "off the table" after he found new funds through debt in new equity gave the stock a boost in the beginning of the week, but the short squeeze took it from there.
Now the company is considering selling even more stock to take advantage of the sudden spike -- but investors should remember that even as the share price has skyrocketed, the business is still in a terrible position. Here are 5 reasons why the stock is still bound to crumble over the long term.
Source Fool.com
