5 Most Popular Stocks on Robinhood

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1. AMC Entertainment Holdings, Inc. (NYSE:AMC)

Number of Hedge Fund Shareholders: 19

Robinhood Popularity Ranking (Q1 2021 – Q2 2023): 4th (37 points)

Stock Performance (January 1, 2021 – June 6, 2023): +118%

One of the top five most popular stocks among Robinhood shareholders and the best performing stock out of their top ten holdings is AMC Entertainment Holdings, Inc. (NYSE:AMC), which has more than doubled in value since the beginning of 2021. Hedge funds also began buying into AMC more heavily in the second-half of 2020 and have largely maintained their AMC holdings since.

While AMC Entertainment Holdings, Inc. (NYSE:AMC)’s returns do look impressive, the meme stock actually shot up significantly higher in early 2021, having gained nearly 2,700% year-to-date at one point in mid-June. Shares have crumbled by 92% since then and have shown little evidence that they’re poised for another breakout any time soon.

AMC Entertainment Holdings, Inc. (NYSE:AMC) has struggled in the wake of the pandemic, with movie attendance still skulking below pre-pandemic levels. The company did have its best first quarter since 2019 this year, with revenue growing by 21%. The quarter was also the second-straight in which it posted positive adjusted EBITDA, the first time it’s done that since just prior to the pandemic. Nonetheless, the company has a long road ahead of it to win back investors given its recent cash burn woes and how heavily it’s diluted its equity to stay afloat.

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