On The Call @ Hedgeye this morning, Hedgeye Communications analyst Andrew Freedman explained why $AMC remains a worthy short, despite reporting their best quarter since COVID began. “It’s just not good enough,” he says.
Freedman believes $AMC is “on track to go to ZERO… They’re really close, if not already fully in this negative death spiral. The stock is down a lot—but it’s one of those situations where there’s still another 100% to go.”
“Even if the writer’s strike ends in time,” he adds, “it doesn’t change the fundamental conclusion on this stock. And that is the equity is pretty much worthless.”
Watch the full clip above.