Beautifully Rare Specimen engraved certificate from the AMC Entertainment, Inc.
printed in 2007. This historic document was printed by the American Banknote Company and has an
ornate border around it with a vignette of an eagle. This item has the signatures of the Company’s President and Secretary. This is the first time we have had this company's certificate for sale.
January 29, 2021 - Short Squeeze
GameStop Corp. and AMC Entertainment Inc. shares burst out of the gate Friday and both finished for their best week ever as an army of social-media rallying retail investors sought to take on established Wall Street firms.
GameStop GME, +19.20% shares leapt 113% to an intraday high of $413.98, and closed Friday up 68% at $325.00. AMC shares surged 85% to $16.00 at Friday’s open and closed up 54% at $13.26. Friday gains overcame Thursday’s losses when several online trading platforms started restricting trades of the volatile stocks. That turned around late Thursday when online trading platform Robinhood said it would allow limited buying of volatile stocks for now.
By Friday’s close, more than 49 million shares of GameStop had exchanged hands. That’s less than the 10-day average daily volume of 91.8 million, but more than the 52-week average daily volume of 10.8 million. AMC share volume was even more pronounced, trading more than 589 million shares by the close, compared with a 10-day average of 367.8 million and a 52-week daily average of 25.5 million shares.
GameStop’s share price has jumped 400% on the week, while AMC’s share price has surged 278%, notching the best performing weeks ever for both stocks.
The frenzy for buying up downtrodden stocks hasn’t just been limited to GameStop and AMC.
Siebert Financial Corp. SIEB, which had been halted several times Friday, more than tripled out of the gate on no news, and finished Friday up 122% at $8.22.
A short squeeze occurs when a stock or other asset jumps sharply higher, forcing traders who had bet that its price would fall, to buy it in order to forestall even greater losses. Their scramble to buy only adds to the upward pressure on the stock's price.
AMC Entertainment Holdings, Inc. (d/b/a AMC Theatres, originally an abbreviation for American Multi-Cinema; often referred to simply as AMC and known in some countries as AMC Cinemas or AMC Multi-Cinemas) is an American movie theater chain headquartered in Leawood, Kansas, and the largest movie theater chain in the world. Founded in 1920, AMC has the largest share of the U.S. theater market ahead of Regal and Cinemark Theatres.
After acquiring Odeon Cinemas, UCI Cinemas, and Carmike Cinemas in 2016, it became the largest movie theater chain in both the world and the United States. It has 2,866 screens in 358 theatres in Europe and 7,967 screens in 620 theatres in the United States.
The company is listed on the New York Stock Exchange; from 2012 to 2018, the Chinese conglomerate Wanda Group owned a majority stake in the company. Private equity firm Silver Lake Partners made a $600 million investment in AMC in September 2018, but the voting power of AMC shares is structured in such a way that Wanda Group still controls the majority of AMC's board of directors.
As of March 18, 2020, all AMC theaters were temporarily closed because of the COVID-19 pandemic, however, the company reopened a majority of its theaters on August 20, 2020.As of July 28, 2020, AMC Theaters has also signed on "a multi-year deal" with Universal Pictures on releasing new films on VOD streaming after three weekends.
History from Wikipedia and
stock certificate research service)About Specimen Certificates
Specimen Certificates are actual certificates that have never been issued. They were usually kept by the printers in their permanent archives as their only example of a particular certificate. Sometimes you will see a hand stamp on the certificate that says "Do not remove from file".
Specimens were also used to show prospective clients different types of certificate designs that were available. Specimen certificates are usually much scarcer than issued certificates. In fact, many times they are the only way to get a certificate for a particular company because the issued certificates were redeemed and destroyed. In a few instances, Specimen certificates were made for a company but were never used because a different design was chosen by the company.
These certificates are normally stamped "Specimen" or they have small holes spelling the word specimen. Most of the time they don't have a serial number, or they have a serial number of 00000. This is an exciting sector of the hobby that has grown in popularity over the past several years.