Why AMC's Stock Is Trading Lower Today

AMC Entertainment Holdings AMC shares are trading lower after Iceberg Research announced they were taking a short position in the company.

“After one month of trading sideways and lots of money lost in call options, the pump seems increasingly shaky” Iceberg Research said in a tweet.

AMC's has been fueled by the Reddit group WallStreetBets in 2021. Shares of AMC peaked at around $62 in early June.

AMC shares were trading at $49.64 at press time, down 8.48% on the day and crossing under the $50 mark for the first time since June 11.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Short SellersShort IdeasMoversTrading IdeasIceberg ResearchRedditwallstreetbets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!