AMC shares fall after research house discloses short position
NY Post
AMC Entertainment shares fell as much as 12 percent on Friday after short-seller Iceberg Research tweeted that it had made a bearish bet against the theater chain operator’s stock.
The so-called meme stock dropped 8.9 percent at $49.40 after falling as low as $47.77 following Iceberg’s disclosure on Twitter that it had sold the shares short, which involves borrowing shares with a view to buying them back at a lower price to cover the bet. By just before 2 p.m. EDT, the stock remained down almost 6 percent. “Our position is based on the fundamentals of the company and the fact its stock price has been inflated by call options, which is always temporary,” said Arnaud Vagner, founder of Iceberg Research.More Related News
I can’t tell you if Donald Trump will spend a day in jail after a Manhattan jury’s guilty verdict in that absurd hush-money case. What I can report with a great degree of certainty is that Trump isn’t a guy acting particularly worried about the outcome; in fact, he thinks it’s going to propel him back into the White House.