Hedges or technicals? Very obvious double top pattern on AMC. If it breaks below $52, technicals will drive it to $40. From there it could be a buying opportunity or collapse.
It's hedgies. 6 million shorts have been used today.
The buyer vs. seller ration is 98% to 2%.
Technical data does not apply to this stock. All price action involving it is market makers and hedge funds trying to shake people out of their positions. Fundamentals don't matter at this stage due to the short interest, synthetic shares, and the fact that retail owns the float.