That type of move sets the company up for an offering, Cramer said.Īlthough he acknowledged the stock is overvalued at current levels, the company has the "financial flexibility to reinvent itself," Cramer said. After bouncing off the lows below $5 per share, the stock surged above $13 in just a couple of days. The names on Cramer's list include Bed Bath & Beyond Inc BBBY, Upstart Holdings Inc UPST, Beyond Meat Inc BYND, Wayfair Inc W and, of course, AMC and GameStop.Ĭramer warned that Bed Bath & Beyond is one name to avoid. What To Know: Squeezes became a hot topic following unprecedented moves in AMC Entertainment Holdings Inc AMC and GameStop Corp GME last year. "And those shorts end up getting squeezed." "Lately we've seen a lot of low quality stocks rally, purely because too many hedge funds shorted them at the same time," Cramer said. He has often been critical of some of the most popular stocks among the retail crowd, but he seemed to side with the "apes" this time around.Ĭramer highlighted several short-squeeze candidates Tuesday night on CNBC's "Mad Money." "They're bent on some sort of contest where they want to destroy the shorts and anybody who says it's overvalued is immediately a target," he added.Jim Cramer doesn't hold anything back when he engages with retail investors on Twitter. While he considered the stock to be overvalued, Cramer said the rally has him fired up, noting that so-called meme traders are on a mission. The share issue was a part of a string of moves the company has made to raise capital. Despite this, the appetite for AMC did not subside. The distressed debt firm, however, subsequently dumped its shares in AMC to turn a profit on the purchase, Bloomberg News reported. Shares of AMC, a favorite among Reddit traders, was rising after the movie theater chain said Tuesday it sold 8.5 million newly issued shares to Mudrick Capital. AMC, Cinemark and Imax were not immediately available to respond to CNBC's request for comment on Cramer's speculation. "It's obvious that this is one of those where the sellers have just had to go away because taking it higher." Cramer's comments came after he fired off a series of tweets in the morning, warning that the ballooning AMC share price was unsustainable unless Aron seeks to acquire a competitor. It closed at $65.55 the next day, giving it a run of 2,5717.45% year to date. Shares hit an all-time high of $72.62 each during the session after several trading halts on heavy volume. "Adam is a fantastic manager, but what he really knows how to do is run a stock and it's simply brilliant." Taking a break from his vacation, Cramer called into CNBC's "Tech Check" just before noon ET to react to the AMC buying frenzy, which at one point gave the company a stock market value north of $30 billion. " has shares that he can offer to be able to really buy pretty much any theater in the world, or any chain, and I think he's going to do that," the "Mad Money" host said. Heralding CEO Adam Aron's business moves, Cramer suggested that Cinemark or Imax could make good make acquisition targets for AMC. Personal Loans for 670 Credit Score or LowerĬNBC's Jim Cramer predicted that AMC Entertainment could be gearing up to buy a rival movie chain as its shares nearly doubled by the close on Wednesday. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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