Is Selling 52-Week Stock Like AirMedia Group Inc. (AMCN) a Winning Strategy?

July 13, 2018 - By Elizabeth Jones

The stock of AirMedia Group Inc. (NASDAQ:AMCN) hit a new 52-week low and has $0.56 target or 7.00 % below today’s $0.60 share price. The 5 months bearish chart indicates high risk for the $37.66M company. The 1-year low was reported on Jul, 13 by Barchart.com. If the $0.56 price target is reached, the company will be worth $2.64M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock decreased 1.64% or $0.01 during the last trading session, reaching $0.5996. About 123,612 shares traded. AirMedia Group Inc. (NASDAQ:AMCN) has declined 62.30% since July 13, 2017 and is downtrending. It has underperformed by 74.87% the S&P500.

AirMedia Group Inc. operates out-of-home advertising platforms primarily in the People's Republic of China. The company has market cap of $37.66 million. The firm operates a network of digital TV screens on planes operated by 6 airlines; and gas station media network, as well as other outdoor media advertising platforms in gas stations. It currently has negative earnings. It also displays non-advertising content, such as weather, sports, and comedy clips; and TV programs, including documentaries and hidden camera type reality shows from other third-party content providers, as well as offers in-flight advertising and non-advertising content.

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