Why AMC's Stock Is Trading Lower Today
AMC Entertainment Holdings (NYSE: AMC) shares are trading lower after Iceberg Research announced they were taking a short position in the company.
“After one month of trading sideways and lots of money lost in call options, the pump seems increasingly shaky” Iceberg Research said in a tweet.
AMC's has been fueled by the Reddit group WallStreetBets in 2021. Shares of AMC peaked at around $62 in early June.
AMC shares were trading at $49.64 at press time, down 8.48% on the day and crossing under the $50 mark for the first time since June 11.
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