This Chart Says Another AMC Short Squeeze Isn't Likely
If you're holding onto AMC Entertainment Holdings (NYSE: AMC) in anticipation of another short squeeze, don't hold your breath. The odds of another one taking shape for this meme stock just fell...again. In fact, the likelihood of a rally driven by short covering has been shrinking since September, reaching the lowest level in months as of the end of November.
Simply put, one of the biggest reasons traders have stuck with AMC this long is withering away. The next-best reason to own it is hope for a full revival of the theatrical film industry, but that's a long-term long shot as well, if the fact that Chief Executive Officer Adam Aron and Chief Financial Officer Sean Goodman have been selling their shares is any indication
But, first things first.
Source Fool.com
