Markets
markets
Luke Kawa

AMC is ripping on high volumes and no news

AMC may have been a little jealous watching retail favorite GameStop get bid up on Monday ̶f̶o̶r̶ ̶n̶o̶ ̶g̶o̶o̶d̶ ̶r̶e̶a̶s̶o̶n̶ because its CEO posted a picture with another CEO who holds a lot of bitcoin.

But its time to bask in the glow of speculative frenzy appears to have arrived just one day later, with shares of the theater chain up big on no apparent news. Trading volumes are 125% of their trailing 20-day average as of 10:55 a.m. ET.

Benchmark analyst Mike Hickey touted the firm’s outlook, saying AMC “is positioned for a multiyear recovery” on Monday, but that was... on Monday.

To paraphrase Bloomberg’s AI summary of what’s going on: people are searching a lot more for AMC news today, even though there’s a relatively mediocre amount of AMC news on offer.

And that may explain why you’re here.

More Markets

See all Markets
markets

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.