Algorithm Predicts 500% Surge in AMC Stock Price by 2024: Growing Revenue to Drive AMC Share Price Growth?
The post Algorithm Predicts 500% Surge in AMC Stock Price by 2024: Growing Revenue to Drive AMC Share Price Growth? appeared on BitcoinEthereumNews.com.
Key takeaways: AMC stock price rallied by +25% in the last 5 days, setting a new monthly high above the $10 mark In the same timeframe, the S&P 500 NASDAQ grew by “just” a little more than +2% Per algorithmic predictions, the price of AMC stock could be primed for a +500% upswing in the next 12 months AMC stock price rallied +25% in the past week while the broader market traded sideways AMC Entertainment Holdings, Inc. (AMC) showcased robust market performance in the last week – the AMC stock gained roughly +25%, extending its monthly gains above 37%. The notably positive price activity came at a turbulent time for stocks and broader financial markets. Case in point, the two leading stock indexes, the S&P 500 and tech-focused NASDAQ, lost -2.7% and -3.1% in the past month, respectively. The reason behind AMC’s stock price rally could be that its financials are beating experts’ expectations, making investors more confident in the entertainment company’s prospects for the short- to medium-term. The company posted a higher-than-expected quarterly profit of $0.01 per share in August, a significant increase over estimated EPS for AMC stock of negative -$0.50. AMC beat experts’ EPS estimates in the last 3 out of 4 quarterly earnings reports. In addition, AMC’s revenues are expected to increase by roughly 19.1% to $1.15 billion in the upcoming earnings report due for November 2023, up from approximately $0.97 billion in the same period last year. AMC stock price prediction 2024: Algorithm predicts bullish action, but beware of shaky fundamentals The CoinCodex algorithm predicts a +518% increase in AMC’s stock price by 2024, predicting a bullish 12-month trend for the company, culminating with the stock trading at roughly $61 per share next October. The price model accounts for 26 technical analysis indicators, including Daily…
Filed under: News - @ October 11, 2023 5:12 pm