Is it better to hold or sell AMC?
Asked 4 years ago
I'm not sure if I should be holding or selling this stock right now. Can someone please give me some advice?
Andrew Moran
Wednesday, June 09, 2021
It really depends on what share price you purchased.
If you got in when it hovered around $2, you are certainly better off taking the money and run! Or, at the very least, gradually exiting your position.
However, if you had some FOMO and you bought the hype of the Reddit craze, which means anything more than $50, perhaps it is best to hold until the next spike happens and you can either recoup your losses or gain a nice little profit.
Remember, the trendline suggests that this stock will experience a correction because it spiked too much too fast. If you are long on the stock, you can always dollar cost average your way to a better position.
The fundamentals suggest this stock is nowhere near the $50 it is presently trading. For now, it is about $10 or $15. In the future, once its finances are under control, it could return to $30+.
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