AMC Entertainment Holdings Inc (AMC)

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Artificial Intelligence likes us, these dudes with zero intelligence can do whatever they like, I don't care.


Artificial Intelligence Is On The Side Of Apes? Tesla-Fame's AI-Based ETF Sells Facebook, Walmart And Buys AMC
7:13 am ET July 12, 2021 (Benzinga)

The Qraft AI-Enhanced US Large Cap Momentum ETF (NYSE: AMOM), an exchange-traded fund driven by artificial intelligence, has sold a majority of its holdings in Facebook Inc. (NASDAQ: FB) and Walmart Inc. (NYSE: WMT), while loading up on shares in AMC Entertainment Inc. (NYSE: AMC).

What Happened: The ETF’s latest portfolio after rebalancing in early July showed that the fund has also sold major chunks of its holdings, or entirely divested, in home retailer Home Depot Inc. (NYSE: HD), software company Adobe Inc. (NASDAQ: ADBE) and chipmaker Texas Instruments Inc. (NASDAQ: TXN).

The fund has a history of accurately predicting the price movements of electric vehicle maker Tesla Inc.'s (NASDAQ: TSLA) shares.

The ETF now has online dating services provider Match Group Inc. (NASDAQ: MTCH), cybersecurity solutions company Fortinet Inc. (NASDAQ: FTNT) and auto parts retailer O’Reilly Automotive Inc. (NASDAQ: ORLY) as its three largest investments.

Match Group has a 3.65% weighting in the AMOM portfolio, followed by Fortinet and O’Reilly with 3.5% weighting each.

The other two stocks that make up the top five holdings in AMOM include auto parts retailer AutoZone Inc. (NYSE: AZO) with a 3.1% weighting and enterprise technology company Zebra Technologies Corp. (NASDAQ: ZBRA) with 2.7%.

AMC Entertainment has been added to the portfolio this month with a 2.34% weighting. The movie theater chain's stock is up 2078% year-to-date thanks to a short squeeze conducted by retail investors that refer to themselves as "apes."

Prior to the rebalancing, the ETF had Facebook, Walmart, Home Depot, Adobe and Texas Instruments as its five largest stock holdings.