Is Now The Time To Buy Into AMC, GameStop, Netflix?

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These stocks saw high retail investor interest on social media at press time early Thursday.

AMC Entertainment Holdings Inc AMC: The movie theater chain was the second most discussed stonk on r/WallStreetBets or WSB at press time. The company was also the second on the list of top 10 trending streams as arranged by Stocktwits. 

See Also: How To Buy AMC Entertainment (AMC) Stock

AMC stock has likely entered a period of consolidation as it trades above the 200-day moving average. The stock crossed the 50-day moving average Wednesday, as noted by Benzinga’s Tyler Bundy.

The stock is falling towards support near the $20 level and might find resistance at near $60 levels in case it makes a turnaround, wrote Bundy.

AMC stock closed 15.04% to $33.43 on Wednesday in the regular session and another 3.53% in the after-hours session to $32.35.

This month, AMC said it would not vote on a previously announced $25-million-share offering, which would have allowed the pandemic hit film exhibitor to raise cash.

From an all-time high of $72.62, that AMC reached in June, the stock has fallen by more than 50%. 

GameStop Corp GME: The bricks and mortar video game retailer — which solidified its reputation as a stonk after it came into the crosshairs of short squeezing retail investors earlier in the year — was the third most discussed name on WSB on Wednesday. GameStop topped the list of trending streams on Stocktwits. 

There is increased speculation on Twitter whether the company would launch its non-fungible token or NFT on Wednesday. There is already a web page in place for the NFT, which also carries a job posting.

Nearly 8.22 million or 14.18% of GameStop’s float was sold short, according to MarketBeat data. The company's stock moved in tandem with other stonks such as AMC and Clover Health Investments Corp CLOV, which traded in the red.

On Wednesday, GameStop shares fell 5.75% in the after-hours session to $157.99 after closing 6.91% lower in the regular session at $167.92.

Netflix Inc NFLX: The subscriber video on demand company trended on Stocktwits on Wednesday.

On Wednesday, it was revealed that Netflix is pushing beyond television and films and has hired former Electronic Arts Inc EA and Facebook Inc FB executive Mike Verdu to lead its video-game efforts.

See Also: Netflix Staring At A Big Customer Churn, Deloitte Report Finds: What You Should Know

In May, a Netflix spokesperson had hinted at the company’s efforts relating to “interactive entertainment.”

Netflix is scheduled to report earnings on July 20. Earnings per share in the first quarter rose 138.85% to $3.75 on a year-over-year basis beating an estimate of $2.96. Q2 EPS is expected to hover around $3.16 levels. 

On Wednesday, Netflix shares rose 2.65% in the after-hours session to $562.48 after closing 1.34% higher in the regular session at $547.95. On a year-to-date basis, shares have risen 1.3%.
Read Next: NFT Growth Remains Strong As Shown By Axie Infinity, OpenSea, CryptoPunks, Says Analyst

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