Will AMC Entertainment Be the Hottest Stock of 2021?

Like the Matrix and Godfather franchises, something that started out so well for AMC Entertainment Holdings (NYSE: AMC) is sputtering near the end. Shares of the leading multiplex operator are having another rough week, tumbling after filing to sell more shares in a mad scramble for liquidity.

AMC also offered up preliminary financials for the recently concluded third quarter in the regulatory filing, and the exhibitor's performance is as bleak as you can probably imagine. Revenue for the third quarter tumbled 91%. AMC theaters didn't start reopening until midway through the period, but it's obviously struggling to woo moviegoers back in the new normal.

The stock's a hot mess, down 58% this year through Wednesday's close. The industry is crumbling before our very eyes as rivals unplug their film projectors and studios push out their releases or take them directly to consumers through premium video on demand. You don't want to be an AMC investor right now, but it doesn't mean that things will always stay that way. Let's propose a very contrarian take here, suggesting that AMC Entertainment could be one of next year's biggest winners.

Source Fool.com