AMC (NYSE:AMC) stock continues to stand out from its fellow meme stocks.
We see AMC as being different than other meme stocks for two main reasons:
He has gained nearly 70,000 followers in the past 30 days and has tweeted multiple times per day as of late. Many of these frequent tweets address AMC’s myriad highly engaged retail investors.
This play seems like a recipe for sustained buying pressure, which will allow AMC to continue to raise capital at an elevated valuation to help fund a turnaround.
It’s easy for a meme stock to lose steam.
But, as we see in sports all the time, crowd engagement can be a huge contributing factor.
If the AMC crowd feels like they’re contributing to the “game” that is afoot, they’ll continue to voice their support for the company. The best sports teams drive crowd enthusiasm through the roof when they’re performing well. And during lulls in the game’s action, the crowd must take over and maintain the energetic atmosphere for the benefit of the team.
The current AMC stock momentum a symbiotic relationship benefiting both AMC and AMC’s “ape” investors. Both sides will need to maintain interest in each other for this meme stock to power onward into the future.
AMC’s Future Looks Brighter
Secondly, a turnaround is becoming very possible. AMC is sitting on a lot of valuable real estate across the globe, and people like to be social and gather.
Therefore, AMC has a unique opportunity to transform its antiquated movie theater business into something else — something significantly more valuable in today’s world. We’re thinking theaters can be repurposed into multi-purpose entertainment destinations.
Essentially, they could keep some of the theater’s existing rooms — because there’s still demand — but they could potentially draw greater crowds by renovating portions of their theaters into bars, restaurants and modern arcades. Maybe even mini golf courses or party rooms.
There’s a whole lot that AMC can do to build a business that will sustainably grow into the 2020s.
But to pull any of it off they need capital.
A lot of capital.
And that’s where point number one comes into play. If AMC’s management can leverage current social momentum trading effectively for long enough, AMC will give itself tons of working capital to fund this turnaround.
But AMC turning itself around doesn’t mean AMC stock is worth $49. We aren’t saying that at all.
If everything goes according to plan for AMC though, there’s no reason AMC will ever return to penny stock territory ever again.
But AMC isn’t the only meme stock that’s on my radar. At my newly launched event Daily 10X Stock Report, I highlight one potential micro- to small-cap stock each day the market is open.
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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