Preview: Meme: stock AMC slides heading into report

Hycroft Mining Holding

09/05/2022 17:19

** Shares of AMC  AMC.N  down 4.0% at $13.21, falling for
3rd straight session, ahead of theater chain's Q1 report due
after the bell Mon
    ** Shares hit 2022 peak of $34.33 on Mar 29, weeks after co
unveiled 22% stake in Hycroft Mining  HYMC.O , saying it wanted
to capitalize on its popularity with retail investors to provide
lifeline to the troubled gold and silver mine operator
 urn:newsml:reuters.com:*:nL3N2VI3XH
    ** Wall Street analysts on avg calling for AMC to report rev
of $743 mln, up from $148 mln a yr ago, and net loss of $363 mln
vs $567 mln deficit in Q1 2021, per Refinitiv IBES data
    ** Avg rating among 9 analysts is "sell"; median PT $6 -
Refinitiv
    ** AMC options imply an 18% move for the shares by Fri; on
avg, AMC shares have moved 7.2% on the day after the co reports
results, according to Trade Alert
    ** Front and center in 2021's meme stock frenzy, shares
soared to record high of $72.62 in Jun

 (Reporting by Lance Tupper, Saqib Iqbal Ahmed
Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))