5 Stocks to Watch Like $AMC
We’ve got 1 last day in the trading week that’s been pretty good so far. There is a lot of chatter going on about YOLO stocks such as AMC Theatres (AMC) and Bed, Bath, and Beyond (BBBY) right now.
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AMC is my main target today because August 15th is the last day you can sell AMC and still receive the APE dividend.
Rivan (RIVN) posted a decent earnings report and we’ll talk more about that later.
There is no more major companies reporting earnings today.
Stocks to Watch for Friday 8/12/22
AMC Theatres (NYSE: AMC)
Bed, Bath, and Beyond (NYSE: BBBY)
Revlon (NYSE: REV)
Upstart (NASDAQ: UPST)
Beyond Meat (NASDAQ: BYND)
AMC Theatres (AMC)
As I mentioned early, we should expect a runup in AMC stock on Friday as FOMOers chase the upcoming APE dividend. I don’t like dilution so I will mostly likely close my AMC position today near the daily high.
There is major resistance at $30 so I’ll be closing out my position in the $26 to $29 range.
Most of those proceeds will be rolled into more BBBY stock.
Why BBBY over AMC? Well, it’s a simple supply and demand issue. AMC has over 500 million shares outstanding while BBBY only has 70 million. That means BBBY can pump much higher due to a lower float.
Bed, Bath, and Beyond (BBBY)
I posted a new article on How to Buy BBBY stock if you’re curious about opening a position. I also list several brokers for my Canadian and European readers who want to get in on the action.
Several Twitter reports indicate that BBBY short interest is now over 50%.
Patience is key here and it’s important to remember that GME stock traded around $10 for a while until it pumped all the way to $400. I’m simply holding my shares and calls patiently.
Revlon (REV)
Nobody is talking about REV stock even though the short interest is 63%.
With only a $300 million market cap, I believe REV is another potential short squeeze target. I still like BBBY more but I’m keeping Revlon on the radar moving into next week.
Upstart (UPST) and Beyond Meat (BYND)
I’m grouping these 2 together because Jim Cramer is trashing both of these stocks in this article.
Inverse Cramer is a real thing and I truly believe he is paid to mislead retail investors for the benefit of hedge funds.
Anytime Cramer publicly hates on a stock, I definitely take notice and consider buying up the stock and calls.
What’s Next?
I’ll be closing my AMC position and moving funds into BBBY. Other than that, Friday should be a slow day for me.
Be sure to take a break this weekend and get outside. Health is important. I’m all for making money but don’t forget to exercise, eat right, and take care of yourself.
That’s all for now. Thanks for reading and check out my site, InvestorTrip.com, for more articles and insights.