Daily Stock Ideas – June 4, 2021
Today’s 5 Stock Ideas
- AMC Entertainment (AMC) – A Wedbush analyst Friday morning shared insight into the current state of affairs for AMC shares. The analyst raised her price target from $6.50 to $7.50 and was optimistic on the prospects for the exhibition industry in a post-pandemic environment. The Wedbush analyst said if AMC can use its current cash balance to reduce debt and create earnings growth opportunities, the stock could trade as high as $10. Given this assumption and the stocks current momentum and price, she called the share price “out of touch” with company fundamentals.
- Sundial Growers (SNDL) – Company CEO, Zach George, will participate in a fireside chat with Business Insider reporter, Jeremy Berke, during Benzinga’s Cannabis Capital Conference Friday. The chat will take place at 12:10 p.m. EDT on Benzinga’s YouTube channel.
- Pershing Square Tontine (PSTH) – The stock was down about 9% following a Thursday evening report this special purpose acquisition corp (SPAC) could buy a 10% stake in Universal Music Group.
- Roth CH Acquisition II (ROCC) – The company’s SPAC merger partner, Reservoir, announced it will buy popular hip-hop and dance music label Tommy Boy Music.
- Zhangmen Education (ZME) – An IPO for next week. The company operates in the Chinese education space. Stocks in the group see extreme momentum and volatility at times, and a new entrant into the public market could create added interest into the sector. The IPO is expected on Tuesday.