Former Wall Street Floor Trader Thinks AMC Will Continue To Drop, Buys GameStop Stock

Longtime trader David Green thinks AMC Entertainment Holdings (NYSE: AMC), could continue to drop down to $40 a share.

“I don’t like AMC here… I think it’s going down to $40,” Green said.

Green went on to purchase shares of GameStop Corp (NYSE: GME) for around $178.20 a share, and then sold the shares for a profit above $180. Shares of AMC were trading lower for the second day in a row on Wednesday afternoon by about 8%.

Green’s comment was made Wednesday morning on Live Trading With David Green on BenzingaTV, a morning trading show in which he live trades the open on Benzinga.

Stocks Discussed On The Show

In addition to Tesla, Green also was bullish Palantir Technologies Inc (NYSE: PLTR) and SoFi Technologies (NASDAQ: SOFI)

He also discussed Newegg Commerce Inc (NASDAQ: NEGG), Marin Software Inc (NASDAQ: MRIN) and Dare Bioscience (NASDAQ: DARE).

Green mostly executes quick day trades, both on the long and short sides. When a stock hits one of his pivot points he initiates a buy order with a tight stop loss.

Watch the full episode in the clip below, or click here to watch.

About The Show:

Benzinga’s Wall Street Global Trading Academy follows Wall Street Veteran David Green as he live trades at the market open breaks down what he is trading today. The show streams live Monday-Wednesday at 9:25 am ET on Benzinga’s Youtube, Twitter, and Twitch.

About The Host

David Green is a 30-year veteran of Wall Street, including 13 years as a specialist on the floor of the New York Stock Exchange. Since retiring from the floor, Green spends his time helping retail traders. Green built a full-fledged trading course, Wallstreet Global Trading Academy, with fellow floor trader Peter Tuchman. To learn more about the course, click here or follow it on Facebook.

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