AMC Stock Surges 34%: Should You Buy It Now?

By the end of August, the price had risen by $ 12. At the beginning of the month, the stock was trading at $ 35.20. After 2 days it was worth $29.8. On August 10, the price climbed to $ 34.98. A week later, there was another jump to $ 38.15. By August 20, the stock was already worth $ 32.26. In the last 6 days of the month, it soared to $ 46.10. However, this wasn’t the limit. Over the past 5 days, the cost has dropped to $ 40.27. And on August 31, it jumped to $ 47.14.
AMC stock’s price action is certainly optimistic. It has a 99 IBD RS Rating. That means it is beating 99% of all other stocks in terms of price growth. But the company loses money, and it is expected that this will continue for many years. This crushes its Composite Rating of IBD to a mediocre 62. Although it is fun to count your newfound wealth on AMC stock and other stocks that are heavily reduced, you need to have rules that must be followed if the deal will go in the opposite direction. Successful investors know that it’s better to use time-tested rules to buy the fastest-growing stocks.

Robert McDowney

Author

Get Hot Stocks Daily    Yes, Notify Me! No thanks