• NYSE:AMC gained 2.96% during Wednesday’s trading session.
• #AMCSqueeze is trending again as the SEC investigates Citadel.
• A slew of new releases in theaters should keep AMC’s momentum going.

NYSE:AMC has extended its recent trend as the stock continues to find support after free falling for the past month. On Wednesday, shares of AMC gained a further 2.96% and closed the trading session at $37.91. There has been some mounting momentum for the meme stock as of late, as the buzz in internet chat rooms and Reddit boards is pointing towards another attempt at a short squeeze. Rising alongside AMC was the original meme stock GameStop (NYSE:GME) which gained 4.66% during Wednesday’s session. Other meme stocks didn’t fare as well after squeezing on Tuesday, as Koss (NASDAQ:KOSS), SmileDirectClub (NASDAQ:SDC), and Camber Energy (NYSEAMERICAN:CEI) all traded lower. 

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AMC apes were once again able to get the hashtag #AMCSqueeze trending on social media on Wednesday. The surge in mentions came as the result of an announcement that the SEC is initiating an investigation into Citadel Securities, which is public enemy number one for retail investors. The investigation will look into Citadel’s business practices, which may include things like short selling stocks as well as its relationship with pay to order flow brokerages like Robinhood (NASDAQ:HOOD). 

AMC stock forecast

AMC’s stock should be helped out by strong quarter over quarter and year over year comparisons from the third and fourth quarters of 2020. A slew of new Hollywood movies are set to hit theaters over the next couple of weeks, including the new Halloween Kills film that is kicking off the Halloween season. It should be another big weekend next week as the long awaited Dune film will hit theaters starting on October 22nd.