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.

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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."

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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