Speculative enthusiasm subsided, and “retail stocks” AMC and GME fell back to multi-month lows

華爾街見聞 · Dec 14, 2021 08:32

12月13日（周一）美股市场，大量投资者抛售高风险股票，致使包括GameStop及AMC院线在内的“散户抱团股”受到重创。

截至美股收盘，GameStop报136.880美元/股，暴跌近14%，当月累计跌幅达30%，创8个月以来新低。

AMC院线股价报23.240美元/股，下跌超15%，当月跌幅超过31%，创6月份以来的最低水平。

此外，3B家居(Bed Bath & Beyond)下跌超6%；Clover Health和黑莓在12月份分别暴跌了16%和10%。

不过，本月的抛售并没有对“散户抱团股”今年的巨大涨势造成太多影响。AMC的股价今年仍上涨了近1000%，而GameStop在2021年的涨幅超过620%。这一大幅反弹使得游戏驿站从小盘股指数罗素2000被转入到大盘股指数罗素1000当中。

上周五，AMC院线股价下跌了7%，该公司首席执行官Adam Aron及首席财务官Sean Goodman卖出了大量的公司股份。早在11月，Adam Aron就以2500万美元左右的价格出售了62.5万股AMC院线股票，作为其遗产规划的一部分，随后他又出售了价值965万美元的股票。Adam Aron目前共持有9.6万股，其中不包括未来发行的约290万股股票。

由于AMC和GameStop的转型计划未能达到许多人的预期，年底的抛售也可能表明投资者正在失去耐心。随着GameStop试图从一家实体连锁店转型为电子商务零售商，该公司已经挖掘了一批新的管理层，包括前亚马逊高管Matthew Furlong和Mike Recupero，他们分别担任首席执行官和首席运营官。然而到目前为止，GameStop的新领导人几乎没有提供关于公司转型战略的细节，也没有分享他们的前景规划。

另一方面，美联储政策稳步收紧也使得投资者开始谨慎，泡沫股首当其冲遭到了市场的抛弃。本周美联储将举行2021年最后一次议息会议，继11月宣布削减购债规模之后，美联储主席鲍威尔态度也由“鸽”转“鹰”。在较大的通胀压力下，美联储在本周的议息会议上可能释放更多收紧货币政策的信号。

On Monday, December 13th, a large number of investors sold risky stocks in the US stock market, dealing a heavy blow to "retail stocks", including GameStop and AMC cinema.

As of the close of u.s. stocks, GameStop was down nearly 14% at $136.880 per share, down 30% for the month, the lowest in eight months.

AMC shares fell more than 15% to $23.240 a share and fell more than 31% for the month, the lowest level since June.

In addition, 3B home (Bed Bath & Beyond) fell by more than 6 per cent. Blanc Clover Health and BlackBerry plunged 16 per cent and 10 per cent respectively in December.

However, this month's sell-off did not have much impact on the huge rally of retail investors this year. AMC's share price is still up nearly 1000 per cent this year, while GameStop's rose more than 620 per cent in 2021. This sharp rebound led to the transfer of the game station from the small-cap index Russell 2000 to the large-cap index Russell 1000.

Shares of AMC cinema fell 7% on Friday as CEO Adam Aron and CFO Sean Goodman sold a large number of shares in the company. Back in November, Adam Aron sold 625000 shares of AMC cinema for about $25 million as part of his estate plan, followed by a $9.65 million sale. Adam Aron currently holds 96000 shares, excluding about 2.9 million shares to be issued in the future.

The year-end sell-off could also be a sign that investors are losing patience as the transformation plans of AMC and GameStop fall short of many expectations. As GameStop tries to transform itself from a brick-and-mortar chain store into an e-commerce retailer, the company has tapped a new pool of management, including former Amazon.Com Inc executives Matthew Furlong and Mike Recupero, who serve as chief executive and chief operating officer, respectively. So far, however, GameStop's new leaders have provided few details about the company's transformation strategy or shared their plans for the future.

On the other hand, the steady tightening of Fed policy has also made investors cautious, and bubble stocks bear the brunt of being abandoned by the market. This week, the Federal Reserve will hold its last interest rate meeting in 2021. Following the announcement of a reduction in bond purchases in November, Federal Reserve Chairman Powell's attitude has changed from "dove" to "eagle". Under higher inflationary pressures, the Fed is likely to send more signals of tightening monetary policy at its interest rate meeting this week.

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投机热情消退 “散户股”AMC、GME跌回几个月低位

Speculative enthusiasm subsided, and “retail stocks” AMC and GME fell back to multi-month lows

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