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- AhBrownAhBrown
  ·2021-08-06
  Not that bad
  非常抱歉，此主贴已删除
  966 评论
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- AhBrownAhBrown
  ·2021-07-31
  Not convinced
  非常抱歉，此主贴已删除
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- AhBrownAhBrown
  ·2021-06-15
  Wait for US correction
  非常抱歉，此主贴已删除
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- AhBrownAhBrown
  ·2021-06-10
  Not expensive but stagnant growth
  非常抱歉，此主贴已删除
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- AhBrownAhBrown
  ·2021-06-09
  Good time to collect more
  AMC dropped over 10% in morning trading, Is AMC Stock A Buy Or Sell Now?<blockquote>AMC早盘下跌超10%，AMC股票现在是买入还是卖出？</blockquote>
  AMC dropped over 10% in morning trading. Is AMC Stock A Buy Or Sell Now? Here's What Fundamentals, S
  AMC dropped over 10% in morning trading, Is AMC Stock A Buy Or Sell Now?<blockquote>AMC早盘下跌超10%，AMC股票现在是买入还是卖出？</blockquote>
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- AhBrownAhBrown
  ·2021-06-09
  Good for employees
  非常抱歉，此主贴已删除
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- AhBrownAhBrown
  ·2021-06-03
  Not convinced
  AMC Stock Is Surging Again. How to Make Sense of the Move.<blockquote>AMC股价再次飙升。如何理解这一举动。</blockquote>
  AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, th
  AMC Stock Is Surging Again. How to Make Sense of the Move.<blockquote>AMC股价再次飙升。如何理解这一举动。</blockquote>
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growth","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/183162313","repostId":"1151240906","repostType":2,"isVote":1,"tweetType":1,"viewCount":1056,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":189874737,"gmtCreate":1623253505729,"gmtModify":1634035273753,"author":{"id":"3585456590253939","authorId":"3585456590253939","name":"AhBrown","avatar":"https://static.tigerbbs.com/077217e3a80abd80d664d0d6229381b4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585456590253939","authorIdStr":"3585456590253939"},"themes":[],"htmlText":"Good time to collect more","listText":"Good time to collect more","text":"Good time to collect more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/189874737","repostId":"1157991918","repostType":4,"repost":{"id":"1157991918","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623246947,"share":"https://www.laohu8.com/m/news/1157991918?lang=zh_CN&edition=full","pubTime":"2021-06-09 21:55","market":"us","language":"en","title":"AMC dropped over 10% in morning trading, Is AMC Stock A Buy Or Sell Now?<blockquote>AMC早盘下跌超10%，AMC股票现在是买入还是卖出？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157991918","media":"Tiger Newspress","summary":"AMC dropped over 10% in morning trading. Is AMC Stock A Buy Or Sell Now? Here's What Fundamentals, S","content":"<p>AMC dropped over 10% in morning trading.&nbsp;Is AMC Stock A Buy Or Sell Now? Here's What Fundamentals, Stock Chart Action, Mutual Fund Ownership Metrics Say.</p><p><blockquote>AMC早盘下跌超10%。AMC股票现在是买入还是卖出？以下是基本面、股票图表走势、共同基金所有权指标的说明。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0c561ed81664985f5ab7c28caf5b1626\" tg-width=\"323\" tg-height=\"321\"></p><p><blockquote></blockquote></p><p> Going to the movies is exciting. But can it match the action by<b>AMC Entertainment</b>(AMC)? Starting the year at just 2 a share,AMC stock has skyrocketed more than 36-foldto new all-time highs this past week.</p><p><blockquote>去看电影是令人兴奋的。但它能与<b>AMC院线</b>（AMC）？今年年初，AMC股价仅为每股2美元，过去一周已飙升超过36倍，创下历史新高。</blockquote></p><p> Shares at one point fell more than 30% on Thursday on news the company plans to sell up to 11.55 million shares — or roughly 2.6% of the total common shares outstanding. AMC later announced completion of the offering, raising $587 million. But in recent days, the stock is holding firm, and it's showing bullish inside action relative to some big daily moves over the past week.</p><p><blockquote>周四，有消息称该公司计划出售最多1155万股股票，约占已发行普通股总数的2.6%，股价一度下跌超过30%。AMC随后宣布完成发行，筹集5.87亿美元。但最近几天，该股保持坚挺，相对于过去一周的一些每日大幅波动，该股表现出看涨的内部走势。</blockquote></p><p> Given extraordinary gains since late May, is it perhaps time to take some profits off the table?&nbsp;After all, the May rally carries theelements of a climax run. Or is it a buy now?</p><p><blockquote>鉴于自5月下旬以来的非凡涨幅，也许是时候取消一些利润了？毕竟，五月的反弹带有高潮的元素。还是现在就买？</blockquote></p><p> This story examines the fundamental, technical and fund ownership factors to determine if the Leawood, Kan., company scores a good probability of making money for stock traders.</p><p><blockquote>这个故事考察了基本面、技术和基金所有权因素，以确定堪萨斯州利伍德。，公司为股票交易者赚钱的概率很高。</blockquote></p><p> Consider this stat: Prior to Wednesday's giant gain, over just five sessions of trade (May 24 to 28), AMC obliterated the short sellers by rising as much as 203% to Friday's intraday peak of 36.72. AMC stock almost finished up 100% or more for a second straight week. Incredible.</p><p><blockquote>考虑一下这个统计数据：在周三大幅上涨之前，在短短五个交易日（5月24日至28日）内，AMC股价上涨203%，达到周五盘中峰值36.72，消灭了卖空者。AMC股价几乎连续第二周上涨100%或更多。不可思议的。</blockquote></p><p> Following the long Memorial Day holiday weekend, AMC jammed nearly 23% higher Tuesday after the company announced an agreement to sell 8.5 million shares at $27.15 per share to Mudrick Capital. AMC said the proceeds would go toward strategic acquisitions of \"additional theatre leases, as well as investments to enhance the consumer appeal of AMC's existing theatres.\"</p><p><blockquote>阵亡将士纪念日长假周末过后，AMC周二宣布同意以每股27.15美元的价格向Mudrick Capital出售850万股股票，股价上涨近23%。AMC表示，所得款项将用于战略收购“额外的影院租赁，以及增强AMC现有影院消费者吸引力的投资”。</blockquote></p><p> Some of that money could also go toward paying down debt.</p><p><blockquote>其中一些钱也可以用于偿还债务。</blockquote></p><p> AMC Stock: Do You Have An Exit Strategy?</p><p><blockquote>AMC股票：你有退出策略吗？</blockquote></p><p> Some observers have expressed concern over the company's huge debt load ($5.4 billion in borrowings due one year from now or longer, as of March 31) vs. total assets ($10.5 billion) on the balance sheet.</p><p><blockquote>一些观察人士对该公司巨大的债务负担（截至3月31日，一年或更长时间内到期的借款为54亿美元）与资产负债表上的总资产（105亿美元）相比表示担忧。</blockquote></p><p> On May 24, shares rallied more than 13% despite news that its heretofore largest shareholder, China's Wanda Group, has sold most of its remaining shares in AMC.</p><p><blockquote>5月24日，尽管有消息称其迄今为止最大的股东中国万达集团已出售其在AMC的大部分剩余股份，但该公司股价仍上涨超过13%。</blockquote></p><p> Earlier this year, WallStreetBets chat-room traders on Reddit joined in unison in buying shares and bullish call options in AMC stock. They did the same in a band of other companies that had been heavily sold short and struggling. If you were watching or trading<b>GameStop</b>(GME), you likely were also keeping close tabs on AMC Entertainment.</p><p><blockquote>今年早些时候，Reddit上的WallStreetBets聊天室交易员一致买入AMC股票并看涨看涨期权期权。他们在一批被大量卖空并陷入困境的其他公司中也做了同样的事情。如果您正在观看或交易<b>游戏驿站</b>(GME)，您可能也在密切关注AMC院线。</blockquote></p><p> Are The Shorts Covering AMC Stock?</p><p><blockquote>空头正在回补AMC股票吗？</blockquote></p><p> When a stock shows ahigh level of short interestand is getting bid up, you can almost count on a chain reaction of buying to occur. Why? Short sellers, betting on a decline in the stock, often have to do an about-face. They cover their short position by buying back shares.</p><p><blockquote>当一只股票表现出很高的空头兴趣并且价格上涨时，你几乎可以指望会发生购买的连锁反应。为什么？押注股票下跌的卖空者往往不得不掉头。他们通过回购股票来弥补空头头寸。</blockquote></p><p> According to the latest data analyzed byMarketSmith, theshort interest— or shares sold short by individual and professional investors —&nbsp; is currently 0.7 times AMC stock's daily average volume of 132 million shares, or roughly 92 million shares. That's equivalent to 20% of the stock's entire float — huge. However, that amount may be skewed by the dramatic rise in daily share turnover.</p><p><blockquote>根据MarketSmith分析的最新数据，空头兴趣（即个人和专业投资者卖空的股票）目前是AMC股票日均交易量1.32亿股（约合9200万股）的0.7倍。这相当于该股总流通量的20%——巨大。然而，这一金额可能会因每日股票成交量的大幅上升而出现偏差。</blockquote></p><p> Still, short sellers had clearly been betting big on a future decline.</p><p><blockquote>尽管如此，卖空者显然对未来的下跌下了很大的赌注。</blockquote></p><p> TheInvestor's Business Daily teamwill keep close watch for any signs that short interest has dropped lately.</p><p><blockquote>《投资者商业日报》团队将密切关注近期空头兴趣下降的任何迹象。</blockquote></p><p> Since late January, AMC stock has followed an extreme zigzag path.&nbsp;Just two weeks after that 20.36 peak, AMC crashed. Shares fell to as low as 5.26. Then came a huge second wave of buying, sending shares back in the low teens.</p><p><blockquote>自1月下旬以来，AMC股票遵循了一条极端的曲折路径。就在20.36峰值后两周，AMC崩溃了。股价跌至5.26。随后出现了第二波巨大的购买浪潮，使股价回到了十几岁。</blockquote></p><p> Week to week, the stock (pumping its market value back up to $25 billion, 450.3 million shares outstanding and a float of 441.3 million) has lately seen its overall price range narrow. That's good as thenew base formed.</p><p><blockquote>该股（市值回升至250亿美元，流通股4.503亿股，流通股4.413亿股）最近整体价格区间收窄。随着新基地的形成，这很好。</blockquote></p><p> Will AMC Stock Keep Rallying In The Long Term?</p><p><blockquote>AMC股票会长期保持上涨吗？</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e13c3bc5de41e6ab81d88a5d9e269528\" tg-width=\"831\" tg-height=\"454\" referrerpolicy=\"no-referrer\">Without a doubt, investors long in AMC are betting on a turnaround in fortunes.</p><p><blockquote>毫无疑问，做多AMC的投资者押注于命运的好转。</blockquote></p><p> In 2020, AMC lost $16.15 a share. Over the past five quarters, the company's sales have shrunk 22% to as much as 99% vs. year-ago levels. Such results would normally devastate most companies.</p><p><blockquote>2020年，AMC每股亏损16.15美元。过去五个季度，该公司的销售额与去年同期相比下降了22%至99%。这样的结果通常会摧毁大多数公司。</blockquote></p><p> But as movie theaters open across the country and boost seating capacity, Wall Street is banking on a tremendous rebound in the top line.</p><p><blockquote>但随着全国各地电影院的开业和座位容量的增加，华尔街寄希望于营收的大幅反弹。</blockquote></p><p> Analysts polled by FactSet offer a consensus estimate of $375 million in second-quarter sales, up 1,884% from a minuscule $18.9 million in the year-ago quarter. Then they see sales rising an additional 561% in Q3 to $790 million and 575% in Q4 to $1.1 billion.</p><p><blockquote>FactSet调查的分析师普遍估计第二季度销售额为3.75亿美元，比去年同期的1,890万美元增长1,884%。然后，他们预计第三季度销售额将增长561%，达到7.9亿美元，第四季度将增长575%，达到11亿美元。</blockquote></p><p></p><p> Wall Street expects net losses of $3.33 a share for 2021, a far cry from the unadjusted $39.15 it lost last year. And the Street sees net losses shrinking further in 2022, to 96 cents a share. Both estimates have gotten revised slightly upward, a bullish sign.</p><p><blockquote>华尔街预计2021年每股净亏损为3.33美元，与去年未经调整的39.15美元相比相去甚远。华尔街预计2022年净亏损将进一步缩小至每股96美分。这两项估计都略有上调，这是一个看涨信号。</blockquote></p><p> With big sales expected to arrive, you can expect cash flows to greatly improve.</p><p><blockquote>随着大销售的到来，你可以期待现金流大大改善。</blockquote></p><p> Key IBD Ratings</p><p><blockquote>主要IBD评级</blockquote></p><p> The last time AMC paid a dividend came on March 23, 2020, at 3 cents per common share. If the company were to resume this cash payout, shareholders could attain an annualized 0.9% yield at the current price near 14 a share.</p><p><blockquote>AMC上一次支付股息是在2020年3月23日，每股普通股3美分。如果公司恢复这种现金支付，以目前每股近14美元的价格，股东可以获得0.9%的年化收益率。</blockquote></p><p> For now, AMC scores poorly in many of IBD's proprietary ratings. Headed into Monday's trading, they include a 22Earnings Per Share Ratingon a scale of 1 to 99; an E for Sales + Profit Margins + Return on Equity (SMR) Rating; and a 56Composite Ratingon a scale of 1 (wizened) to 99 (wizardly).</p><p><blockquote>目前，AMC在IBD的许多专有评级中得分很低。在周一的交易中，它们的每股收益评级为22，范围为1至99；销售额+利润率+股本回报率(SMR)评级为E；综合评分为56分，范围为1（萎缩）到99（神奇）。</blockquote></p><p> Meanwhile, AMC's movies industry group ranks in the top half of IBD's197 industry groupsin terms of six-month relative performance. Decent, but not outstanding. Mutual funds owning a stake in AMC rose to 203 at the end of March vs. 186 in Q4 of 2020. Some portfolio managers are eager to accumulate shares.</p><p><blockquote>与此同时，就六个月的相对表现而言，AMC的电影产业集团在IBD的197个产业集团中排名前一半。体面，但不突出。截至3月底，持有AMC股份的共同基金增至203只，而2020年第四季度为186只。一些投资组合经理渴望积累股票。</blockquote></p><p> AMC Stock Forecast</p><p><blockquote>AMC股票预测</blockquote></p><p> When choosing growth stocks for the biggest potential gains based on theCAN SLIM investment paradigm, your chances of finding a true market leader improve when you focus on those with aComposite Ratingof 90 or higher. Shooting for a 95 or higher, particularly at the start of a new bull market, is even better.</p><p><blockquote>当根据Can Slim投资范式选择具有最大潜在收益的成长型股票时，当您关注那些综合评级为90或更高的股票时，您找到真正市场领导者的机会就会增加。争取95或更高，尤其是在新一轮牛市开始时，就更好了。</blockquote></p><p> However, given that AMC stock is a turnaround play, it makes sense to place more emphasis on relative strength. AMC has that in spades.</p><p><blockquote>然而，鉴于AMC股票是一只扭亏为盈的股票，更多地强调相对实力是有意义的。AMC无疑拥有这一点。</blockquote></p><p> A 99Relative Strength Ratingon a scale of 1 to 99 means that the company has outperformed 99% of all stocks in the IBD database. Strong long-term performance? Indeed.The Accumulation/Distribution Rating, meanwhile, has jumped to a best-possible A+ grade on a scale of A to E.</p><p><blockquote>99相对实力评级（范围为1到99）意味着该公司的表现优于IBD数据库中99%的股票。长期表现强劲？确实。与此同时，积累/分配评级已跃升至A至E级的最佳A+级。</blockquote></p><p> Plus, notice on the weekly chart and inMarketSmith, how therelative strength linehas been vaulting.</p><p><blockquote>另外，请注意周线图和inMarketSmith上的相对强弱线是如何跳跃的。</blockquote></p><p> The RS line, drawn in blue, compares a stock or ETF's moves vs. the S&amp;P 500.</p><p><blockquote>用蓝色绘制的RS线将股票或ETF的走势与标普500进行比较。</blockquote></p><p> When a stock breaks out of anew base, prefer to see the RS line also running to new high ground. This means that a stock is now outperforming the general market.</p><p><blockquote>当股票突破新的基础时，更希望看到RS线也运行到新高。这意味着一只股票现在的表现优于大盘。</blockquote></p><p> In essence, AMC created a boxy cup-like base over the past two months. That's plenty of time for asolid cup patternto form. This pattern produces aproper buy pointof 10 cents above the cup's left-side peak of 14.54 on March 18. So in AMC stock's case, thecorrect entrystood at 14.64. You want to see heavy volume on the breakout.</p><p><blockquote>本质上，AMC在过去两个月里创造了一个四四方方的杯子状底座。有足够的时间形成实心杯图案。该形态在3月18日杯子左侧峰值14.54上方产生了10美分的适当买入点。因此，就AMC股票而言，正确的进场点为14.64。你希望在突破时看到放量。</blockquote></p><p> Conclusion: Is It A Buy Now? Or A Sell?</p><p><blockquote>结论：现在买吗？还是卖出？</blockquote></p><p> In effect,AMC stockhas staged astrong breakouttwice last week.</p><p><blockquote>实际上，AMC股票上周两次强劲突破。</blockquote></p><p> First, AMC had to surpass 14.64 before becoming a new buy. The May 18 attempt was short-lived. However, a 20% gain on May 25 sent shares zooming past theproper buy point.</p><p><blockquote>首先，AMC必须超过14.64才能成为新买入。5月18日的尝试是短暂的。然而，5月25日20%的涨幅导致股价飙升至适当的买入点。</blockquote></p><p> The5% buy zonegoes up to 15.37, so the stock quickly got extended.</p><p><blockquote>5%买入区升至15.37，因此该股迅速扩大。</blockquote></p><p> As always, control your risk. Not all breakouts work, especially when thestock market uptrend is under pressure. The best time to buy? When IBD notes the stock market in aconfirmed uptrend, it signifies that buying demand is healthy among institutional investors.</p><p><blockquote>一如既往，控制你的风险。并非所有突破都有效，尤其是当股市上升趋势面临压力时。最佳买入时机？当IBD注意到股市处于确认的上升趋势时，这表明机构投资者的购买需求是健康的。</blockquote></p><p> In stock investing, you want the wind at your back, not in your face.</p><p><blockquote>在股票投资中，你希望风在你背后，而不是在你面前。</blockquote></p><p> Last month, this story suggested keeping a close eye on how AMC stock handles potential upside resistance near 20. In fact, the action since that incredible week ended Jan. 29 could also be viewed as adeep cup pattern. From that vantage point, AMC delivered a second breakout, surpassing a new 20.46buy pointwith fury.</p><p><blockquote>上个月，这篇报道建议密切关注AMC股票如何应对20点附近的潜在上行阻力。事实上，自1月29日结束的那令人难以置信的一周以来的行动也可以被视为深杯模式。从这个有利位置来看，AMC实现了第二次突破，愤怒地超过了新的20.46买入点。</blockquote></p><p> To get this additional entry in acup without handle, simply add 10 cents to the cup's left-side high — in this case, 20.36. On May 27, shares rifled past this entry and has not looked back. Still, with gains of as much as 501% in just two weeks, it makes sense to lock in at least partial profits.</p><p><blockquote>要在没有手柄的情况下获得acup的额外入口，只需在杯子的左侧高点上增加10美分——在本例中为20.36美分。5月27日，股价突破了这一关口，并且没有回头。尽管如此，由于短短两周内涨幅高达501%，至少锁定部分利润是有意义的。</blockquote></p><p> And after you buy any stock with solid prospects,don't forget the golden rule of investing. Keeping your losses small keeps you in the investing game for the long haul.</p><p><blockquote>在您购买任何前景良好的股票后，不要忘记投资的黄金法则。保持较小的损失可以让您长期参与投资游戏。</blockquote></p><p> Yet at this point, AMC is sharply extended from anIBD-style entry point. Keep watching to see if a new base will form; this could set up a new breakout opportunity.</p><p><blockquote>然而在这一点上，AMC从IBD式的切入点急剧延伸。继续观察是否会形成新的基地；这可能会创造一个新的突破机会。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC dropped over 10% in morning trading, Is AMC Stock A Buy Or Sell Now?<blockquote>AMC早盘下跌超10%，AMC股票现在是买入还是卖出？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC dropped over 10% in morning trading, Is AMC Stock A Buy Or Sell Now?<blockquote>AMC早盘下跌超10%，AMC股票现在是买入还是卖出？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-09 21:55</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMC dropped over 10% in morning trading.&nbsp;Is AMC Stock A Buy Or Sell Now? Here's What Fundamentals, Stock Chart Action, Mutual Fund Ownership Metrics Say.</p><p><blockquote>AMC早盘下跌超10%。AMC股票现在是买入还是卖出？以下是基本面、股票图表走势、共同基金所有权指标的说明。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0c561ed81664985f5ab7c28caf5b1626\" tg-width=\"323\" tg-height=\"321\"></p><p><blockquote></blockquote></p><p> Going to the movies is exciting. But can it match the action by<b>AMC Entertainment</b>(AMC)? Starting the year at just 2 a share,AMC stock has skyrocketed more than 36-foldto new all-time highs this past week.</p><p><blockquote>去看电影是令人兴奋的。但它能与<b>AMC院线</b>（AMC）？今年年初，AMC股价仅为每股2美元，过去一周已飙升超过36倍，创下历史新高。</blockquote></p><p> Shares at one point fell more than 30% on Thursday on news the company plans to sell up to 11.55 million shares — or roughly 2.6% of the total common shares outstanding. AMC later announced completion of the offering, raising $587 million. But in recent days, the stock is holding firm, and it's showing bullish inside action relative to some big daily moves over the past week.</p><p><blockquote>周四，有消息称该公司计划出售最多1155万股股票，约占已发行普通股总数的2.6%，股价一度下跌超过30%。AMC随后宣布完成发行，筹集5.87亿美元。但最近几天，该股保持坚挺，相对于过去一周的一些每日大幅波动，该股表现出看涨的内部走势。</blockquote></p><p> Given extraordinary gains since late May, is it perhaps time to take some profits off the table?&nbsp;After all, the May rally carries theelements of a climax run. Or is it a buy now?</p><p><blockquote>鉴于自5月下旬以来的非凡涨幅，也许是时候取消一些利润了？毕竟，五月的反弹带有高潮的元素。还是现在就买？</blockquote></p><p> This story examines the fundamental, technical and fund ownership factors to determine if the Leawood, Kan., company scores a good probability of making money for stock traders.</p><p><blockquote>这个故事考察了基本面、技术和基金所有权因素，以确定堪萨斯州利伍德。，公司为股票交易者赚钱的概率很高。</blockquote></p><p> Consider this stat: Prior to Wednesday's giant gain, over just five sessions of trade (May 24 to 28), AMC obliterated the short sellers by rising as much as 203% to Friday's intraday peak of 36.72. AMC stock almost finished up 100% or more for a second straight week. Incredible.</p><p><blockquote>考虑一下这个统计数据：在周三大幅上涨之前，在短短五个交易日（5月24日至28日）内，AMC股价上涨203%，达到周五盘中峰值36.72，消灭了卖空者。AMC股价几乎连续第二周上涨100%或更多。不可思议的。</blockquote></p><p> Following the long Memorial Day holiday weekend, AMC jammed nearly 23% higher Tuesday after the company announced an agreement to sell 8.5 million shares at $27.15 per share to Mudrick Capital. AMC said the proceeds would go toward strategic acquisitions of \"additional theatre leases, as well as investments to enhance the consumer appeal of AMC's existing theatres.\"</p><p><blockquote>阵亡将士纪念日长假周末过后，AMC周二宣布同意以每股27.15美元的价格向Mudrick Capital出售850万股股票，股价上涨近23%。AMC表示，所得款项将用于战略收购“额外的影院租赁，以及增强AMC现有影院消费者吸引力的投资”。</blockquote></p><p> Some of that money could also go toward paying down debt.</p><p><blockquote>其中一些钱也可以用于偿还债务。</blockquote></p><p> AMC Stock: Do You Have An Exit Strategy?</p><p><blockquote>AMC股票：你有退出策略吗？</blockquote></p><p> Some observers have expressed concern over the company's huge debt load ($5.4 billion in borrowings due one year from now or longer, as of March 31) vs. total assets ($10.5 billion) on the balance sheet.</p><p><blockquote>一些观察人士对该公司巨大的债务负担（截至3月31日，一年或更长时间内到期的借款为54亿美元）与资产负债表上的总资产（105亿美元）相比表示担忧。</blockquote></p><p> On May 24, shares rallied more than 13% despite news that its heretofore largest shareholder, China's Wanda Group, has sold most of its remaining shares in AMC.</p><p><blockquote>5月24日，尽管有消息称其迄今为止最大的股东中国万达集团已出售其在AMC的大部分剩余股份，但该公司股价仍上涨超过13%。</blockquote></p><p> Earlier this year, WallStreetBets chat-room traders on Reddit joined in unison in buying shares and bullish call options in AMC stock. They did the same in a band of other companies that had been heavily sold short and struggling. If you were watching or trading<b>GameStop</b>(GME), you likely were also keeping close tabs on AMC Entertainment.</p><p><blockquote>今年早些时候，Reddit上的WallStreetBets聊天室交易员一致买入AMC股票并看涨看涨期权期权。他们在一批被大量卖空并陷入困境的其他公司中也做了同样的事情。如果您正在观看或交易<b>游戏驿站</b>(GME)，您可能也在密切关注AMC院线。</blockquote></p><p> Are The Shorts Covering AMC Stock?</p><p><blockquote>空头正在回补AMC股票吗？</blockquote></p><p> When a stock shows ahigh level of short interestand is getting bid up, you can almost count on a chain reaction of buying to occur. Why? Short sellers, betting on a decline in the stock, often have to do an about-face. They cover their short position by buying back shares.</p><p><blockquote>当一只股票表现出很高的空头兴趣并且价格上涨时，你几乎可以指望会发生购买的连锁反应。为什么？押注股票下跌的卖空者往往不得不掉头。他们通过回购股票来弥补空头头寸。</blockquote></p><p> According to the latest data analyzed byMarketSmith, theshort interest— or shares sold short by individual and professional investors —&nbsp; is currently 0.7 times AMC stock's daily average volume of 132 million shares, or roughly 92 million shares. That's equivalent to 20% of the stock's entire float — huge. However, that amount may be skewed by the dramatic rise in daily share turnover.</p><p><blockquote>根据MarketSmith分析的最新数据，空头兴趣（即个人和专业投资者卖空的股票）目前是AMC股票日均交易量1.32亿股（约合9200万股）的0.7倍。这相当于该股总流通量的20%——巨大。然而，这一金额可能会因每日股票成交量的大幅上升而出现偏差。</blockquote></p><p> Still, short sellers had clearly been betting big on a future decline.</p><p><blockquote>尽管如此，卖空者显然对未来的下跌下了很大的赌注。</blockquote></p><p> TheInvestor's Business Daily teamwill keep close watch for any signs that short interest has dropped lately.</p><p><blockquote>《投资者商业日报》团队将密切关注近期空头兴趣下降的任何迹象。</blockquote></p><p> Since late January, AMC stock has followed an extreme zigzag path.&nbsp;Just two weeks after that 20.36 peak, AMC crashed. Shares fell to as low as 5.26. Then came a huge second wave of buying, sending shares back in the low teens.</p><p><blockquote>自1月下旬以来，AMC股票遵循了一条极端的曲折路径。就在20.36峰值后两周，AMC崩溃了。股价跌至5.26。随后出现了第二波巨大的购买浪潮，使股价回到了十几岁。</blockquote></p><p> Week to week, the stock (pumping its market value back up to $25 billion, 450.3 million shares outstanding and a float of 441.3 million) has lately seen its overall price range narrow. That's good as thenew base formed.</p><p><blockquote>该股（市值回升至250亿美元，流通股4.503亿股，流通股4.413亿股）最近整体价格区间收窄。随着新基地的形成，这很好。</blockquote></p><p> Will AMC Stock Keep Rallying In The Long Term?</p><p><blockquote>AMC股票会长期保持上涨吗？</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e13c3bc5de41e6ab81d88a5d9e269528\" tg-width=\"831\" tg-height=\"454\" referrerpolicy=\"no-referrer\">Without a doubt, investors long in AMC are betting on a turnaround in fortunes.</p><p><blockquote>毫无疑问，做多AMC的投资者押注于命运的好转。</blockquote></p><p> In 2020, AMC lost $16.15 a share. Over the past five quarters, the company's sales have shrunk 22% to as much as 99% vs. year-ago levels. Such results would normally devastate most companies.</p><p><blockquote>2020年，AMC每股亏损16.15美元。过去五个季度，该公司的销售额与去年同期相比下降了22%至99%。这样的结果通常会摧毁大多数公司。</blockquote></p><p> But as movie theaters open across the country and boost seating capacity, Wall Street is banking on a tremendous rebound in the top line.</p><p><blockquote>但随着全国各地电影院的开业和座位容量的增加，华尔街寄希望于营收的大幅反弹。</blockquote></p><p> Analysts polled by FactSet offer a consensus estimate of $375 million in second-quarter sales, up 1,884% from a minuscule $18.9 million in the year-ago quarter. Then they see sales rising an additional 561% in Q3 to $790 million and 575% in Q4 to $1.1 billion.</p><p><blockquote>FactSet调查的分析师普遍估计第二季度销售额为3.75亿美元，比去年同期的1,890万美元增长1,884%。然后，他们预计第三季度销售额将增长561%，达到7.9亿美元，第四季度将增长575%，达到11亿美元。</blockquote></p><p></p><p> Wall Street expects net losses of $3.33 a share for 2021, a far cry from the unadjusted $39.15 it lost last year. And the Street sees net losses shrinking further in 2022, to 96 cents a share. Both estimates have gotten revised slightly upward, a bullish sign.</p><p><blockquote>华尔街预计2021年每股净亏损为3.33美元，与去年未经调整的39.15美元相比相去甚远。华尔街预计2022年净亏损将进一步缩小至每股96美分。这两项估计都略有上调，这是一个看涨信号。</blockquote></p><p> With big sales expected to arrive, you can expect cash flows to greatly improve.</p><p><blockquote>随着大销售的到来，你可以期待现金流大大改善。</blockquote></p><p> Key IBD Ratings</p><p><blockquote>主要IBD评级</blockquote></p><p> The last time AMC paid a dividend came on March 23, 2020, at 3 cents per common share. If the company were to resume this cash payout, shareholders could attain an annualized 0.9% yield at the current price near 14 a share.</p><p><blockquote>AMC上一次支付股息是在2020年3月23日，每股普通股3美分。如果公司恢复这种现金支付，以目前每股近14美元的价格，股东可以获得0.9%的年化收益率。</blockquote></p><p> For now, AMC scores poorly in many of IBD's proprietary ratings. Headed into Monday's trading, they include a 22Earnings Per Share Ratingon a scale of 1 to 99; an E for Sales + Profit Margins + Return on Equity (SMR) Rating; and a 56Composite Ratingon a scale of 1 (wizened) to 99 (wizardly).</p><p><blockquote>目前，AMC在IBD的许多专有评级中得分很低。在周一的交易中，它们的每股收益评级为22，范围为1至99；销售额+利润率+股本回报率(SMR)评级为E；综合评分为56分，范围为1（萎缩）到99（神奇）。</blockquote></p><p> Meanwhile, AMC's movies industry group ranks in the top half of IBD's197 industry groupsin terms of six-month relative performance. Decent, but not outstanding. Mutual funds owning a stake in AMC rose to 203 at the end of March vs. 186 in Q4 of 2020. Some portfolio managers are eager to accumulate shares.</p><p><blockquote>与此同时，就六个月的相对表现而言，AMC的电影产业集团在IBD的197个产业集团中排名前一半。体面，但不突出。截至3月底，持有AMC股份的共同基金增至203只，而2020年第四季度为186只。一些投资组合经理渴望积累股票。</blockquote></p><p> AMC Stock Forecast</p><p><blockquote>AMC股票预测</blockquote></p><p> When choosing growth stocks for the biggest potential gains based on theCAN SLIM investment paradigm, your chances of finding a true market leader improve when you focus on those with aComposite Ratingof 90 or higher. Shooting for a 95 or higher, particularly at the start of a new bull market, is even better.</p><p><blockquote>当根据Can Slim投资范式选择具有最大潜在收益的成长型股票时，当您关注那些综合评级为90或更高的股票时，您找到真正市场领导者的机会就会增加。争取95或更高，尤其是在新一轮牛市开始时，就更好了。</blockquote></p><p> However, given that AMC stock is a turnaround play, it makes sense to place more emphasis on relative strength. AMC has that in spades.</p><p><blockquote>然而，鉴于AMC股票是一只扭亏为盈的股票，更多地强调相对实力是有意义的。AMC无疑拥有这一点。</blockquote></p><p> A 99Relative Strength Ratingon a scale of 1 to 99 means that the company has outperformed 99% of all stocks in the IBD database. Strong long-term performance? Indeed.The Accumulation/Distribution Rating, meanwhile, has jumped to a best-possible A+ grade on a scale of A to E.</p><p><blockquote>99相对实力评级（范围为1到99）意味着该公司的表现优于IBD数据库中99%的股票。长期表现强劲？确实。与此同时，积累/分配评级已跃升至A至E级的最佳A+级。</blockquote></p><p> Plus, notice on the weekly chart and inMarketSmith, how therelative strength linehas been vaulting.</p><p><blockquote>另外，请注意周线图和inMarketSmith上的相对强弱线是如何跳跃的。</blockquote></p><p> The RS line, drawn in blue, compares a stock or ETF's moves vs. the S&amp;P 500.</p><p><blockquote>用蓝色绘制的RS线将股票或ETF的走势与标普500进行比较。</blockquote></p><p> When a stock breaks out of anew base, prefer to see the RS line also running to new high ground. This means that a stock is now outperforming the general market.</p><p><blockquote>当股票突破新的基础时，更希望看到RS线也运行到新高。这意味着一只股票现在的表现优于大盘。</blockquote></p><p> In essence, AMC created a boxy cup-like base over the past two months. That's plenty of time for asolid cup patternto form. This pattern produces aproper buy pointof 10 cents above the cup's left-side peak of 14.54 on March 18. So in AMC stock's case, thecorrect entrystood at 14.64. You want to see heavy volume on the breakout.</p><p><blockquote>本质上，AMC在过去两个月里创造了一个四四方方的杯子状底座。有足够的时间形成实心杯图案。该形态在3月18日杯子左侧峰值14.54上方产生了10美分的适当买入点。因此，就AMC股票而言，正确的进场点为14.64。你希望在突破时看到放量。</blockquote></p><p> Conclusion: Is It A Buy Now? Or A Sell?</p><p><blockquote>结论：现在买吗？还是卖出？</blockquote></p><p> In effect,AMC stockhas staged astrong breakouttwice last week.</p><p><blockquote>实际上，AMC股票上周两次强劲突破。</blockquote></p><p> First, AMC had to surpass 14.64 before becoming a new buy. The May 18 attempt was short-lived. However, a 20% gain on May 25 sent shares zooming past theproper buy point.</p><p><blockquote>首先，AMC必须超过14.64才能成为新买入。5月18日的尝试是短暂的。然而，5月25日20%的涨幅导致股价飙升至适当的买入点。</blockquote></p><p> The5% buy zonegoes up to 15.37, so the stock quickly got extended.</p><p><blockquote>5%买入区升至15.37，因此该股迅速扩大。</blockquote></p><p> As always, control your risk. Not all breakouts work, especially when thestock market uptrend is under pressure. The best time to buy? When IBD notes the stock market in aconfirmed uptrend, it signifies that buying demand is healthy among institutional investors.</p><p><blockquote>一如既往，控制你的风险。并非所有突破都有效，尤其是当股市上升趋势面临压力时。最佳买入时机？当IBD注意到股市处于确认的上升趋势时，这表明机构投资者的购买需求是健康的。</blockquote></p><p> In stock investing, you want the wind at your back, not in your face.</p><p><blockquote>在股票投资中，你希望风在你背后，而不是在你面前。</blockquote></p><p> Last month, this story suggested keeping a close eye on how AMC stock handles potential upside resistance near 20. In fact, the action since that incredible week ended Jan. 29 could also be viewed as adeep cup pattern. From that vantage point, AMC delivered a second breakout, surpassing a new 20.46buy pointwith fury.</p><p><blockquote>上个月，这篇报道建议密切关注AMC股票如何应对20点附近的潜在上行阻力。事实上，自1月29日结束的那令人难以置信的一周以来的行动也可以被视为深杯模式。从这个有利位置来看，AMC实现了第二次突破，愤怒地超过了新的20.46买入点。</blockquote></p><p> To get this additional entry in acup without handle, simply add 10 cents to the cup's left-side high — in this case, 20.36. On May 27, shares rifled past this entry and has not looked back. Still, with gains of as much as 501% in just two weeks, it makes sense to lock in at least partial profits.</p><p><blockquote>要在没有手柄的情况下获得acup的额外入口，只需在杯子的左侧高点上增加10美分——在本例中为20.36美分。5月27日，股价突破了这一关口，并且没有回头。尽管如此，由于短短两周内涨幅高达501%，至少锁定部分利润是有意义的。</blockquote></p><p> And after you buy any stock with solid prospects,don't forget the golden rule of investing. Keeping your losses small keeps you in the investing game for the long haul.</p><p><blockquote>在您购买任何前景良好的股票后，不要忘记投资的黄金法则。保持较小的损失可以让您长期参与投资游戏。</blockquote></p><p> Yet at this point, AMC is sharply extended from anIBD-style entry point. Keep watching to see if a new base will form; this could set up a new breakout opportunity.</p><p><blockquote>然而在这一点上，AMC从IBD式的切入点急剧延伸。继续观察是否会形成新的基地；这可能会创造一个新的突破机会。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157991918","content_text":"AMC dropped over 10% in morning trading. Is AMC Stock A Buy Or Sell Now? Here's What Fundamentals, Stock Chart Action, Mutual Fund Ownership Metrics Say.\n\nGoing to the movies is exciting. But can it match the action byAMC Entertainment(AMC)? Starting the year at just 2 a share,AMC stock has skyrocketed more than 36-foldto new all-time highs this past week.\nShares at one point fell more than 30% on Thursday on news the company plans to sell up to 11.55 million shares — or roughly 2.6% of the total common shares outstanding. AMC later announced completion of the offering, raising $587 million. But in recent days, the stock is holding firm, and it's showing bullish inside action relative to some big daily moves over the past week.\nGiven extraordinary gains since late May, is it perhaps time to take some profits off the table? After all, the May rally carries theelements of a climax run. Or is it a buy now?\nThis story examines the fundamental, technical and fund ownership factors to determine if the Leawood, Kan., company scores a good probability of making money for stock traders.\nConsider this stat: Prior to Wednesday's giant gain, over just five sessions of trade (May 24 to 28), AMC obliterated the short sellers by rising as much as 203% to Friday's intraday peak of 36.72. AMC stock almost finished up 100% or more for a second straight week. Incredible.\nFollowing the long Memorial Day holiday weekend, AMC jammed nearly 23% higher Tuesday after the company announced an agreement to sell 8.5 million shares at $27.15 per share to Mudrick Capital. AMC said the proceeds would go toward strategic acquisitions of \"additional theatre leases, as well as investments to enhance the consumer appeal of AMC's existing theatres.\"\nSome of that money could also go toward paying down debt.\nAMC Stock: Do You Have An Exit Strategy?\nSome observers have expressed concern over the company's huge debt load ($5.4 billion in borrowings due one year from now or longer, as of March 31) vs. total assets ($10.5 billion) on the balance sheet.\nOn May 24, shares rallied more than 13% despite news that its heretofore largest shareholder, China's Wanda Group, has sold most of its remaining shares in AMC.\nEarlier this year, WallStreetBets chat-room traders on Reddit joined in unison in buying shares and bullish call options in AMC stock. They did the same in a band of other companies that had been heavily sold short and struggling. If you were watching or tradingGameStop(GME), you likely were also keeping close tabs on AMC Entertainment.\nAre The Shorts Covering AMC Stock?\nWhen a stock shows ahigh level of short interestand is getting bid up, you can almost count on a chain reaction of buying to occur. Why? Short sellers, betting on a decline in the stock, often have to do an about-face. They cover their short position by buying back shares.\nAccording to the latest data analyzed byMarketSmith, theshort interest— or shares sold short by individual and professional investors —  is currently 0.7 times AMC stock's daily average volume of 132 million shares, or roughly 92 million shares. That's equivalent to 20% of the stock's entire float — huge. However, that amount may be skewed by the dramatic rise in daily share turnover.\nStill, short sellers had clearly been betting big on a future decline.\nTheInvestor's Business Daily teamwill keep close watch for any signs that short interest has dropped lately.\nSince late January, AMC stock has followed an extreme zigzag path. Just two weeks after that 20.36 peak, AMC crashed. Shares fell to as low as 5.26. Then came a huge second wave of buying, sending shares back in the low teens.\nWeek to week, the stock (pumping its market value back up to $25 billion, 450.3 million shares outstanding and a float of 441.3 million) has lately seen its overall price range narrow. That's good as thenew base formed.\nWill AMC Stock Keep Rallying In The Long Term?\nWithout a doubt, investors long in AMC are betting on a turnaround in fortunes.\nIn 2020, AMC lost $16.15 a share. Over the past five quarters, the company's sales have shrunk 22% to as much as 99% vs. year-ago levels. Such results would normally devastate most companies.\nBut as movie theaters open across the country and boost seating capacity, Wall Street is banking on a tremendous rebound in the top line.\nAnalysts polled by FactSet offer a consensus estimate of $375 million in second-quarter sales, up 1,884% from a minuscule $18.9 million in the year-ago quarter. Then they see sales rising an additional 561% in Q3 to $790 million and 575% in Q4 to $1.1 billion.\nWall Street expects net losses of $3.33 a share for 2021, a far cry from the unadjusted $39.15 it lost last year. And the Street sees net losses shrinking further in 2022, to 96 cents a share. Both estimates have gotten revised slightly upward, a bullish sign.\nWith big sales expected to arrive, you can expect cash flows to greatly improve.\nKey IBD Ratings\nThe last time AMC paid a dividend came on March 23, 2020, at 3 cents per common share. If the company were to resume this cash payout, shareholders could attain an annualized 0.9% yield at the current price near 14 a share.\nFor now, AMC scores poorly in many of IBD's proprietary ratings. Headed into Monday's trading, they include a 22Earnings Per Share Ratingon a scale of 1 to 99; an E for Sales + Profit Margins + Return on Equity (SMR) Rating; and a 56Composite Ratingon a scale of 1 (wizened) to 99 (wizardly).\nMeanwhile, AMC's movies industry group ranks in the top half of IBD's197 industry groupsin terms of six-month relative performance. Decent, but not outstanding. Mutual funds owning a stake in AMC rose to 203 at the end of March vs. 186 in Q4 of 2020. Some portfolio managers are eager to accumulate shares.\nAMC Stock Forecast\nWhen choosing growth stocks for the biggest potential gains based on theCAN SLIM investment paradigm, your chances of finding a true market leader improve when you focus on those with aComposite Ratingof 90 or higher. Shooting for a 95 or higher, particularly at the start of a new bull market, is even better.\nHowever, given that AMC stock is a turnaround play, it makes sense to place more emphasis on relative strength. AMC has that in spades.\nA 99Relative Strength Ratingon a scale of 1 to 99 means that the company has outperformed 99% of all stocks in the IBD database. Strong long-term performance? Indeed.The Accumulation/Distribution Rating, meanwhile, has jumped to a best-possible A+ grade on a scale of A to E.\nPlus, notice on the weekly chart and inMarketSmith, how therelative strength linehas been vaulting.\nThe RS line, drawn in blue, compares a stock or ETF's moves vs. the S&P 500.\nWhen a stock breaks out of anew base, prefer to see the RS line also running to new high ground. This means that a stock is now outperforming the general market.\nIn essence, AMC created a boxy cup-like base over the past two months. That's plenty of time for asolid cup patternto form. This pattern produces aproper buy pointof 10 cents above the cup's left-side peak of 14.54 on March 18. So in AMC stock's case, thecorrect entrystood at 14.64. You want to see heavy volume on the breakout.\nConclusion: Is It A Buy Now? Or A Sell?\nIn effect,AMC stockhas staged astrong breakouttwice last week.\nFirst, AMC had to surpass 14.64 before becoming a new buy. The May 18 attempt was short-lived. However, a 20% gain on May 25 sent shares zooming past theproper buy point.\nThe5% buy zonegoes up to 15.37, so the stock quickly got extended.\nAs always, control your risk. Not all breakouts work, especially when thestock market uptrend is under pressure. The best time to buy? When IBD notes the stock market in aconfirmed uptrend, it signifies that buying demand is healthy among institutional investors.\nIn stock investing, you want the wind at your back, not in your face.\nLast month, this story suggested keeping a close eye on how AMC stock handles potential upside resistance near 20. In fact, the action since that incredible week ended Jan. 29 could also be viewed as adeep cup pattern. From that vantage point, AMC delivered a second breakout, surpassing a new 20.46buy pointwith fury.\nTo get this additional entry in acup without handle, simply add 10 cents to the cup's left-side high — in this case, 20.36. On May 27, shares rifled past this entry and has not looked back. Still, with gains of as much as 501% in just two weeks, it makes sense to lock in at least partial profits.\nAnd after you buy any stock with solid prospects,don't forget the golden rule of investing. Keeping your losses small keeps you in the investing game for the long haul.\nYet at this point, AMC is sharply extended from anIBD-style entry point. Keep watching to see if a new base will form; this could set up a new breakout opportunity.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180413045,"gmtCreate":1623218720587,"gmtModify":1634035670704,"author":{"id":"3585456590253939","authorId":"3585456590253939","name":"AhBrown","avatar":"https://static.tigerbbs.com/077217e3a80abd80d664d0d6229381b4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585456590253939","authorIdStr":"3585456590253939"},"themes":[],"htmlText":"Good for employees","listText":"Good for employees","text":"Good for employees","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/180413045","repostId":"2142429852","repostType":4,"isVote":1,"tweetType":1,"viewCount":885,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":111340252,"gmtCreate":1622654720076,"gmtModify":1634099490166,"author":{"id":"3585456590253939","authorId":"3585456590253939","name":"AhBrown","avatar":"https://static.tigerbbs.com/077217e3a80abd80d664d0d6229381b4","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585456590253939","authorIdStr":"3585456590253939"},"themes":[],"htmlText":"Not convinced","listText":"Not convinced","text":"Not convinced","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/111340252","repostId":"1188552613","repostType":4,"repost":{"id":"1188552613","kind":"news","pubTimestamp":1622627641,"share":"https://www.laohu8.com/m/news/1188552613?lang=zh_CN&edition=full","pubTime":"2021-06-02 17:54","market":"us","language":"en","title":"AMC Stock Is Surging Again. How to Make Sense of the Move.<blockquote>AMC股价再次飙升。如何理解这一举动。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188552613","media":"Barrons","summary":"AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, th","content":"<p>AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, that social media-fueled investor frenzy that has launched the likes of&nbsp;GameStop&nbsp;and&nbsp;BlackBerry&nbsp;into speculative territory.</p><p><blockquote>AMC院线股价飙升很容易被视为迷因交易疯狂，社交媒体推动的投资者狂热将游戏驿站和黑莓等公司带入了投机领域。</blockquote></p><p> But it’s possible that traditional investors have missed a fundamental change in the movie theater business—and it wouldn’t be the first time.</p><p><blockquote>但传统投资者可能错过了电影院业务的根本性变化——而且这已经不是第一次了。</blockquote></p><p> Shares of AMC (ticker: AMC) surged 23% on Tuesday, closing at $32.04—just off an all-time high of $36.72 set in late May. That puts the movie-theater chain’s market capitalization at roughly $16 billion, more than 15 times what it was in 2018, a record-breaking year at the box office.&nbsp;Shares were up another 34%, to $42.92, in premarket trading Wednesday.</p><p><blockquote>AMC（股票代码：AMC）股价周二飙升23%，收于32.04美元，略低于5月底创下的36.72美元的历史高点。这使得这家连锁影院的市值约为160亿美元，是2018年票房破纪录的一年的15倍多。周三盘前交易中，该公司股价又上涨34%，至42.92美元。</blockquote></p><p> Even if investors missed an inflection point, though, the math doesn’t add up. The reason might be that market cap isn’t the right measure. Maybe it’s enterprise value, which is essentially market cap and debt. AMC’s enterprise value is about $26 billion, compared with $6.2 billion or so at the end of 2018.</p><p><blockquote>不过，即使投资者错过了拐点，数学也不成立。原因可能是市值不是正确的衡量标准。也许是企业价值，本质上是市值和债务。AMC的企业价值约为260亿美元，而2018年底为62亿美元左右。</blockquote></p><p> AMC added debt during the pandemic as theaters in the country’s biggest cities were dark for months. And the numbers make it easy to understand why: The U.S. box office in 2020 generated about $2.1 billion in ticket sales, down 81% from the 2018 record of $11.9 billion.</p><p><blockquote>AMC在疫情期间增加了债务，因为该国最大城市的影院连续几个月处于黑暗之中。这些数字很容易理解原因：2020年美国票房收入约为21亿美元，比2018年创纪录的119亿美元下降了81%。</blockquote></p><p> So, it seems investors have been vexed by movie theater economics. But it wouldn’t be the first time. The industry essentially went belly up at the turn of the millennium. Regal Cinemas, for instance, declared bankruptcy in 2001.</p><p><blockquote>因此，投资者似乎对电影院经济感到恼火。但这不是第一次了。这个行业在世纪之交基本上破产了。例如，富豪影院于2001年宣布破产。</blockquote></p><p> Back then, the industry had plenty of capacity because of a new theater design—stadium seating that gave a better view of the screen. That shift meant movie theater chains had to renovate or risk losing all their patrons to movie theaters that offered the better view. In the end, too many seats and not enough patrons meant the return on the stadium-seating investments never materialized.</p><p><blockquote>当时，该行业有足够的容量，因为一种新的剧院设计——体育场座位可以更好地观看屏幕。这种转变意味着连锁电影院必须进行翻新，否则就有可能将所有顾客流失到视野更好的电影院。最终，太多的座位和不够的顾客意味着体育场座位投资的回报从未实现。</blockquote></p><p> The upshot was consolidation. With fewer operators, the number of screens stabilized. Between 2002 and 2007, Regal Cinemas became a cash-generating machine because the stock was mispriced. The stock returned 21% a year on average. The S&amp;P 500 and Dow Jones Industrial Average both returned less than 9% a year on average over the same period.</p><p><blockquote>结果是整合。随着操作员的减少，屏幕数量稳定下来。2002年至2007年间，Regal Cinemas因股票定价错误而成为现金产生机器。该股平均每年回报率为21%。同期，标普500和道琼斯工业平均指数的平均年回报率均低于9%。</blockquote></p><p> In those days, Regal Cinema’s enterprise value about $5 billion, or about 50% of total U.S. box office sales. That’s far short of AMC today. Something new has to be different for AMC to be worth it.</p><p><blockquote>当年，富豪影院的企业价值约为50亿美元，约占美国票房总收入的50%。这与今天的AMC相去甚远。新的东西必须与众不同，AMC才值得。</blockquote></p><p> Maybe the movie theater business is going to go through another period of consolidation, which can usher in another golden age of returns. AMC’s Tuesday gains, in fact, were catalyzed by new capital raised so the company could go on the offensive, acquiring defunct chains. Monopolies, after all, can be good for stock returns.</p><p><blockquote>也许电影院业务又要经历一段盘整期，可以迎来又一个回报的黄金时代。事实上，AMC周二的上涨是由筹集的新资本推动的，因此该公司可以继续进攻，收购已倒闭的连锁店。毕竟，垄断有利于股票回报。</blockquote></p><p> If AMC can increase market share and the U.S. box office sales can return to 2018 levels in a few years, total sales at might be $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 amounted to $5.5 billion.</p><p><blockquote>如果AMC能够增加市场份额，并且美国票房销售额能够在几年内恢复到2018年的水平，那么总销售额可能会达到90亿美元——60亿美元来自门票，30亿美元来自特许经营。2018年销售额达55亿美元。</blockquote></p><p> Then, with better gross profit margins derived from larger scale, AMC might be able to generate $600 million in free cash flow annually, which puts the stock at about a 4% free cash flow yield. The S&amp;P 500 trades for about a 3% free cash flow yield. The numbers can work—if they’re stretched.</p><p><blockquote>然后，随着规模的扩大带来更好的毛利率，AMC每年可能能够产生6亿美元的自由现金流，这使得该股的自由现金流收益率约为4%。标普500的自由现金流收益率约为3%。这些数字可以发挥作用——如果它们被拉伸的话。</blockquote></p><p> There are problems with this scenario, though. There are lots of ifs and mights—and AMC has never generated cash flow like that in the past. Arriving at $600 million in free cash flow is more about justifying current valuations than predicting what is likely.</p><p><blockquote>不过，这种情况存在问题。有很多如果和可能——AMC过去从未产生过这样的现金流。达到6亿美元的自由现金流更多的是为了证明当前估值的合理性，而不是预测可能发生的情况。</blockquote></p><p> Also, with mergers and acquisitions, AMC market shares might rise, but there are still competitors. Regal Cinemas is still out there, owned by Cineworld Holdings (CINE. London). So is Cinemark (CNK). There’s not a true monopoly.</p><p><blockquote>此外，通过并购，AMC的市场份额可能会上升，但仍然存在竞争对手。富豪影院仍然存在，归电影世界控股公司所有。伦敦）。喜满客（CNK）也是如此。没有真正的垄断。</blockquote></p><p> AMC and its peers have to deal with streaming, too. Windows for exclusive theater showings are shrinking. The pandemic has accelerated that. And if AMC gets too large and demanding for movie makers, the talent can always go to streaming faster, hurting box office sales.</p><p><blockquote>AMC及其同行也必须应对流媒体问题。独家影院放映的窗口正在缩小。疫情加速了这一点。如果AMC变得太大，对电影制作人的要求太高，人才总是可以更快地转向流媒体，从而损害票房销售。</blockquote></p><p> There is also the problem of the peer stocks. They aren’t trading like this is a brave new world for theaters. Cineworld stock is up 484% from its 52-week low, but shares are still off 72% from all-time highs. Cinemark shares are up 222% from their 52-week low. They are down 47% from their all-time high.</p><p><blockquote>还有同行股票的问题。他们并不认为这是剧院的一个勇敢的新世界。Cineworld股价较52周低点上涨484%，但仍较历史高点下跌72%。喜满客股价较52周低点上涨222%。它们比历史高点下跌了47%。</blockquote></p><p> AMC stock, again, is up almost 1,600% from its 52-week low and is down just 13% from its May all-time high.</p><p><blockquote>AMC股价再次较52周低点上涨近1,600%，较5月份历史高点仅下跌13%。</blockquote></p><p> Wall Street just doesn’t see the potential either. Nine analysts cover the stock. The average analyst price target is about $5. Before the pandemic, the average analyst price target was $15. But there were fewer shares back then. The old target enterprise value was roughly $7 billion. It’s tough to get from $7 billion to $26 billion predicting better margins.</p><p><blockquote>华尔街也没有看到潜力。九名分析师关注该股。分析师平均目标价约为5美元。在疫情爆发之前，分析师的平均目标价为15美元。但当时股票较少。旧的目标企业价值约为70亿美元。很难从70亿美元增加到260亿美元来预测更好的利润率。</blockquote></p><p></p><p> Analysts do have positive free cash flow modeled, though–$13 million in 2022 and $90 million in 2023. That’s a long way from $600 million.</p><p><blockquote>不过，分析师确实模拟了正自由现金流——2022年为1300万美元，2023年为9000万美元。这距离6亿美元还有很长的路要走。</blockquote></p><p> And that’s just another way of saying that AMC bulls are a long way from making the math work.</p><p><blockquote>这只是AMC多头距离实现数学计算还有很长的路要走的另一种说法。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Stock Is Surging Again. How to Make Sense of the Move.<blockquote>AMC股价再次飙升。如何理解这一举动。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC Stock Is Surging Again. How to Make Sense of the Move.<blockquote>AMC股价再次飙升。如何理解这一举动。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-02 17:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, that social media-fueled investor frenzy that has launched the likes of&nbsp;GameStop&nbsp;and&nbsp;BlackBerry&nbsp;into speculative territory.</p><p><blockquote>AMC院线股价飙升很容易被视为迷因交易疯狂，社交媒体推动的投资者狂热将游戏驿站和黑莓等公司带入了投机领域。</blockquote></p><p> But it’s possible that traditional investors have missed a fundamental change in the movie theater business—and it wouldn’t be the first time.</p><p><blockquote>但传统投资者可能错过了电影院业务的根本性变化——而且这已经不是第一次了。</blockquote></p><p> Shares of AMC (ticker: AMC) surged 23% on Tuesday, closing at $32.04—just off an all-time high of $36.72 set in late May. That puts the movie-theater chain’s market capitalization at roughly $16 billion, more than 15 times what it was in 2018, a record-breaking year at the box office.&nbsp;Shares were up another 34%, to $42.92, in premarket trading Wednesday.</p><p><blockquote>AMC（股票代码：AMC）股价周二飙升23%，收于32.04美元，略低于5月底创下的36.72美元的历史高点。这使得这家连锁影院的市值约为160亿美元，是2018年票房破纪录的一年的15倍多。周三盘前交易中，该公司股价又上涨34%，至42.92美元。</blockquote></p><p> Even if investors missed an inflection point, though, the math doesn’t add up. The reason might be that market cap isn’t the right measure. Maybe it’s enterprise value, which is essentially market cap and debt. AMC’s enterprise value is about $26 billion, compared with $6.2 billion or so at the end of 2018.</p><p><blockquote>不过，即使投资者错过了拐点，数学也不成立。原因可能是市值不是正确的衡量标准。也许是企业价值，本质上是市值和债务。AMC的企业价值约为260亿美元，而2018年底为62亿美元左右。</blockquote></p><p> AMC added debt during the pandemic as theaters in the country’s biggest cities were dark for months. And the numbers make it easy to understand why: The U.S. box office in 2020 generated about $2.1 billion in ticket sales, down 81% from the 2018 record of $11.9 billion.</p><p><blockquote>AMC在疫情期间增加了债务，因为该国最大城市的影院连续几个月处于黑暗之中。这些数字很容易理解原因：2020年美国票房收入约为21亿美元，比2018年创纪录的119亿美元下降了81%。</blockquote></p><p> So, it seems investors have been vexed by movie theater economics. But it wouldn’t be the first time. The industry essentially went belly up at the turn of the millennium. Regal Cinemas, for instance, declared bankruptcy in 2001.</p><p><blockquote>因此，投资者似乎对电影院经济感到恼火。但这不是第一次了。这个行业在世纪之交基本上破产了。例如，富豪影院于2001年宣布破产。</blockquote></p><p> Back then, the industry had plenty of capacity because of a new theater design—stadium seating that gave a better view of the screen. That shift meant movie theater chains had to renovate or risk losing all their patrons to movie theaters that offered the better view. In the end, too many seats and not enough patrons meant the return on the stadium-seating investments never materialized.</p><p><blockquote>当时，该行业有足够的容量，因为一种新的剧院设计——体育场座位可以更好地观看屏幕。这种转变意味着连锁电影院必须进行翻新，否则就有可能将所有顾客流失到视野更好的电影院。最终，太多的座位和不够的顾客意味着体育场座位投资的回报从未实现。</blockquote></p><p> The upshot was consolidation. With fewer operators, the number of screens stabilized. Between 2002 and 2007, Regal Cinemas became a cash-generating machine because the stock was mispriced. The stock returned 21% a year on average. The S&amp;P 500 and Dow Jones Industrial Average both returned less than 9% a year on average over the same period.</p><p><blockquote>结果是整合。随着操作员的减少，屏幕数量稳定下来。2002年至2007年间，Regal Cinemas因股票定价错误而成为现金产生机器。该股平均每年回报率为21%。同期，标普500和道琼斯工业平均指数的平均年回报率均低于9%。</blockquote></p><p> In those days, Regal Cinema’s enterprise value about $5 billion, or about 50% of total U.S. box office sales. That’s far short of AMC today. Something new has to be different for AMC to be worth it.</p><p><blockquote>当年，富豪影院的企业价值约为50亿美元，约占美国票房总收入的50%。这与今天的AMC相去甚远。新的东西必须与众不同，AMC才值得。</blockquote></p><p> Maybe the movie theater business is going to go through another period of consolidation, which can usher in another golden age of returns. AMC’s Tuesday gains, in fact, were catalyzed by new capital raised so the company could go on the offensive, acquiring defunct chains. Monopolies, after all, can be good for stock returns.</p><p><blockquote>也许电影院业务又要经历一段盘整期，可以迎来又一个回报的黄金时代。事实上，AMC周二的上涨是由筹集的新资本推动的，因此该公司可以继续进攻，收购已倒闭的连锁店。毕竟，垄断有利于股票回报。</blockquote></p><p> If AMC can increase market share and the U.S. box office sales can return to 2018 levels in a few years, total sales at might be $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 amounted to $5.5 billion.</p><p><blockquote>如果AMC能够增加市场份额，并且美国票房销售额能够在几年内恢复到2018年的水平，那么总销售额可能会达到90亿美元——60亿美元来自门票，30亿美元来自特许经营。2018年销售额达55亿美元。</blockquote></p><p> Then, with better gross profit margins derived from larger scale, AMC might be able to generate $600 million in free cash flow annually, which puts the stock at about a 4% free cash flow yield. The S&amp;P 500 trades for about a 3% free cash flow yield. The numbers can work—if they’re stretched.</p><p><blockquote>然后，随着规模的扩大带来更好的毛利率，AMC每年可能能够产生6亿美元的自由现金流，这使得该股的自由现金流收益率约为4%。标普500的自由现金流收益率约为3%。这些数字可以发挥作用——如果它们被拉伸的话。</blockquote></p><p> There are problems with this scenario, though. There are lots of ifs and mights—and AMC has never generated cash flow like that in the past. Arriving at $600 million in free cash flow is more about justifying current valuations than predicting what is likely.</p><p><blockquote>不过，这种情况存在问题。有很多如果和可能——AMC过去从未产生过这样的现金流。达到6亿美元的自由现金流更多的是为了证明当前估值的合理性，而不是预测可能发生的情况。</blockquote></p><p> Also, with mergers and acquisitions, AMC market shares might rise, but there are still competitors. Regal Cinemas is still out there, owned by Cineworld Holdings (CINE. London). So is Cinemark (CNK). There’s not a true monopoly.</p><p><blockquote>此外，通过并购，AMC的市场份额可能会上升，但仍然存在竞争对手。富豪影院仍然存在，归电影世界控股公司所有。伦敦）。喜满客（CNK）也是如此。没有真正的垄断。</blockquote></p><p> AMC and its peers have to deal with streaming, too. Windows for exclusive theater showings are shrinking. The pandemic has accelerated that. And if AMC gets too large and demanding for movie makers, the talent can always go to streaming faster, hurting box office sales.</p><p><blockquote>AMC及其同行也必须应对流媒体问题。独家影院放映的窗口正在缩小。疫情加速了这一点。如果AMC变得太大，对电影制作人的要求太高，人才总是可以更快地转向流媒体，从而损害票房销售。</blockquote></p><p> There is also the problem of the peer stocks. They aren’t trading like this is a brave new world for theaters. Cineworld stock is up 484% from its 52-week low, but shares are still off 72% from all-time highs. Cinemark shares are up 222% from their 52-week low. They are down 47% from their all-time high.</p><p><blockquote>还有同行股票的问题。他们并不认为这是剧院的一个勇敢的新世界。Cineworld股价较52周低点上涨484%，但仍较历史高点下跌72%。喜满客股价较52周低点上涨222%。它们比历史高点下跌了47%。</blockquote></p><p> AMC stock, again, is up almost 1,600% from its 52-week low and is down just 13% from its May all-time high.</p><p><blockquote>AMC股价再次较52周低点上涨近1,600%，较5月份历史高点仅下跌13%。</blockquote></p><p> Wall Street just doesn’t see the potential either. Nine analysts cover the stock. The average analyst price target is about $5. Before the pandemic, the average analyst price target was $15. But there were fewer shares back then. The old target enterprise value was roughly $7 billion. It’s tough to get from $7 billion to $26 billion predicting better margins.</p><p><blockquote>华尔街也没有看到潜力。九名分析师关注该股。分析师平均目标价约为5美元。在疫情爆发之前，分析师的平均目标价为15美元。但当时股票较少。旧的目标企业价值约为70亿美元。很难从70亿美元增加到260亿美元来预测更好的利润率。</blockquote></p><p></p><p> Analysts do have positive free cash flow modeled, though–$13 million in 2022 and $90 million in 2023. That’s a long way from $600 million.</p><p><blockquote>不过，分析师确实模拟了正自由现金流——2022年为1300万美元，2023年为9000万美元。这距离6亿美元还有很长的路要走。</blockquote></p><p> And that’s just another way of saying that AMC bulls are a long way from making the math work.</p><p><blockquote>这只是AMC多头距离实现数学计算还有很长的路要走的另一种说法。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/amc-rockets-higher-is-it-worth-it-maybe-51622594691?mod=hp_LEAD_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.barrons.com/articles/amc-rockets-higher-is-it-worth-it-maybe-51622594691?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188552613","content_text":"AMC Entertainment‘s skyrocketing stock price would be easy to dismiss as just meme-trade madness, that social media-fueled investor frenzy that has launched the likes of GameStop and BlackBerry into speculative territory.\nBut it’s possible that traditional investors have missed a fundamental change in the movie theater business—and it wouldn’t be the first time.\nShares of AMC (ticker: AMC) surged 23% on Tuesday, closing at $32.04—just off an all-time high of $36.72 set in late May. That puts the movie-theater chain’s market capitalization at roughly $16 billion, more than 15 times what it was in 2018, a record-breaking year at the box office. Shares were up another 34%, to $42.92, in premarket trading Wednesday.\nEven if investors missed an inflection point, though, the math doesn’t add up. The reason might be that market cap isn’t the right measure. Maybe it’s enterprise value, which is essentially market cap and debt. AMC’s enterprise value is about $26 billion, compared with $6.2 billion or so at the end of 2018.\nAMC added debt during the pandemic as theaters in the country’s biggest cities were dark for months. And the numbers make it easy to understand why: The U.S. box office in 2020 generated about $2.1 billion in ticket sales, down 81% from the 2018 record of $11.9 billion.\nSo, it seems investors have been vexed by movie theater economics. But it wouldn’t be the first time. The industry essentially went belly up at the turn of the millennium. Regal Cinemas, for instance, declared bankruptcy in 2001.\nBack then, the industry had plenty of capacity because of a new theater design—stadium seating that gave a better view of the screen. That shift meant movie theater chains had to renovate or risk losing all their patrons to movie theaters that offered the better view. In the end, too many seats and not enough patrons meant the return on the stadium-seating investments never materialized.\nThe upshot was consolidation. With fewer operators, the number of screens stabilized. Between 2002 and 2007, Regal Cinemas became a cash-generating machine because the stock was mispriced. The stock returned 21% a year on average. The S&P 500 and Dow Jones Industrial Average both returned less than 9% a year on average over the same period.\nIn those days, Regal Cinema’s enterprise value about $5 billion, or about 50% of total U.S. box office sales. That’s far short of AMC today. Something new has to be different for AMC to be worth it.\nMaybe the movie theater business is going to go through another period of consolidation, which can usher in another golden age of returns. AMC’s Tuesday gains, in fact, were catalyzed by new capital raised so the company could go on the offensive, acquiring defunct chains. Monopolies, after all, can be good for stock returns.\nIf AMC can increase market share and the U.S. box office sales can return to 2018 levels in a few years, total sales at might be $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 amounted to $5.5 billion.\nThen, with better gross profit margins derived from larger scale, AMC might be able to generate $600 million in free cash flow annually, which puts the stock at about a 4% free cash flow yield. The S&P 500 trades for about a 3% free cash flow yield. The numbers can work—if they’re stretched.\nThere are problems with this scenario, though. There are lots of ifs and mights—and AMC has never generated cash flow like that in the past. Arriving at $600 million in free cash flow is more about justifying current valuations than predicting what is likely.\nAlso, with mergers and acquisitions, AMC market shares might rise, but there are still competitors. Regal Cinemas is still out there, owned by Cineworld Holdings (CINE. London). So is Cinemark (CNK). There’s not a true monopoly.\nAMC and its peers have to deal with streaming, too. Windows for exclusive theater showings are shrinking. The pandemic has accelerated that. And if AMC gets too large and demanding for movie makers, the talent can always go to streaming faster, hurting box office sales.\nThere is also the problem of the peer stocks. They aren’t trading like this is a brave new world for theaters. Cineworld stock is up 484% from its 52-week low, but shares are still off 72% from all-time highs. Cinemark shares are up 222% from their 52-week low. They are down 47% from their all-time high.\nAMC stock, again, is up almost 1,600% from its 52-week low and is down just 13% from its May all-time high.\nWall Street just doesn’t see the potential either. Nine analysts cover the stock. The average analyst price target is about $5. Before the pandemic, the average analyst price target was $15. But there were fewer shares back then. The old target enterprise value was roughly $7 billion. It’s tough to get from $7 billion to $26 billion predicting better margins.\nAnalysts do have positive free cash flow modeled, though–$13 million in 2022 and $90 million in 2023. That’s a long way from $600 million.\nAnd that’s just another way of saying that AMC bulls are a long way from making the math work.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":847,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}