Loop Capital has come out swinging against AMC Entertainment, the meme stock that has defied all odds this year. According to CNBC, Loop analysts have doubled down on their AMC warning, reiterating a “sell” rating on the stock. The reason they cited was “too many screens,” even as the movie chain is in the midst of an expansion push in which it plans to grow its footprint.
AMC investors have heard it all before, and they maintain that they are not going anywhere. The stock price was meandering between positive and negative territory before the bears gained control and