Greenfield is entitled to his opinion for sure but he no doubt was trying to influence the market with his downgrade. The timing could not have been more obvious. Let's take to the airwaves on the day when potentially the biggest movie in history is being released and say the marker of that film is overvalued. Sounds about right. Sure there was some "sell the news" baked into the sell off but him being on CNBC yelling "sell Disney" was a pure manipulation effort.
Like I said he no undoubtedly made money on the drop from $120. I just hope he didn't sink it all into NFLX. :)
Greenfield is a #$%$. Clown came out with the downgrade of DIS conveniently the same day Episode 7 was released. He was running his trap on CNBC and any other outlet that would have him on about how DIS was overvalued and NFLX was the better play. He was obviously short DIS and surely made money on the drop from $120. I said at the time that his positioning in the stock should be investigated as he was clearly engaged in blatant market manipulation.
I hope he is getting burned on his NFLX position. I can't stand guys like him. Let the markets play out freely and fairly.
I agree. I took my nephew to see it yesterday and I actually enjoyed it for the most part. I've seen better but I've seen much, much worse. Affleck did a solid job despite my own very low expectations. I think it sets the franchise up for better movies down the line despite the harsh reviews.
With the Carmike acquisition AMC is now the largest theater chain in the United States. 2016 is going to be a banner year for theaters and the increased footprint is only going to make AMC more profitable.
Reasons to be Bullish:
1. Largest theater chain
2. Great 2016-2017 movie slates
3. Nice, steady dividend
4. Largest IMAX footprint of any chain
This stock is still under the radar. It doesn't trade a very high volume so that tells me not too many institutions have gotten on board yet. AMC to me is the best pure play in the exhibitor space out there. Their theaters are super-comfortable as they have invested quite heavily into the customer experience. Add to that fact that they have the largest IMAX footprint in the business, a strong balance sheet and pay a 3.5% dividend yield.
Consider this a buying opportunity. The film slate for this year is the best it has been in a very long time. Not to mention the year closes out with another 'Star Wars' movie. I expect this to be a very good year for AMC. Plus you get paid a nice 3.5% dividend to wait.