AMC Stock Forecast: AMC Entertainment Holdings Inc plunges 5% to surrender $10 mark
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADE- NYSE: AMC drops roughly 5% during Tuesday’s trading session.
- AMC and Walt Disney have announced an extended new partnership.
- Regal Cinemas owner Cineworld has officially filed for bankruptcy.
Update: AMC Entertainment Holdings Inc (NYSE: AMC) shares snapped their recovery above the $10 mark on Tuesday, as they sank in tandem with a global sell-off fuelled by hotter US inflation data. An upside surprise to the monthly Core CPI combined with upbeat headline inflation from the US cemented a 75 bps Fed rate hike for next week, sending major Wall Street indices deep in the red. Earlier in Tuesday’s trading, AMC stock price was trending higher on increased investors' interest. In the wake of the sell-off, AMC stock price eroded 4.89% on the day and surrendered the $10 level to settle at $9.72 per share.
NYSE:AMC extended its streak to four consecutive positive sessions as the meme stock climbed back above the $10.00 price level. On Monday, shares of AMC gained a further 5.14% and closed the trading session at a price of $10.22. Stocks also extended their rally from last week as all three major indices closed higher. The rally comes ahead of the key August CPI report that is set to be released on Tuesday. Overall, the Dow Jones gained 229 basis points, the S&P 500 added 1.06%, and the NASDAQ rose higher by 1.27% during the session.
Stay up to speed with hot stocks' news!
AMC and Walt Disney (NYSE:DIS) extended their partnership as announced by AMC CEO Adam Aron via Twitter on Monday. Disney+ subscribers will now get access to exclusive screenings at AMC theaters as a paper of their monthly subscription fee. The move is a good one for AMC which allows users back into the theater environment while also capitalizing on refreshments which are a high margin revenue for the company. It’s not the first time the two companies have worked together like this. As recently as the end of August, AMC held the Disney+ Day which screened familiar Disney films at a discounted ticket price.
AMC APE preferred stock price
British Cinema operator Regal Cinemas which is owned by Cineworld Group plc (LON:CINE), has officially announced it is filing for bankruptcy. The move was very much anticipated for the company and shares fell a further 24% on Monday and is now down by 91% for the year. AMC has reiterated that it is not close to filing for bankruptcy, especially after investors helped to raise $1 billion cash last year and even more this year after the debut of the APE (NYSE:APE) preferred shares.
Previous updates
Update: AMC Entertainment Holdings Inc (NYSE: AMC) shares were trading higher again on Tuesday amid continued retail investor interest with such platforms as Reddit's r/wallstreetbets taking up the potential of a short squeeze. This follows the fundamental news that the world's second-largest movie theatre chain Cineworld Group filed for bankruptcy. Meanwhile, from a technical standpoint, the price has corrected over a 23.6% Fibonacci retracement and would be expected to continue correcting to at least the structure mark near to the 38.2% ratio around $11.33 in the coming days.
Like this article? Help us with some feedback by answering this survey:
- NYSE: AMC drops roughly 5% during Tuesday’s trading session.
- AMC and Walt Disney have announced an extended new partnership.
- Regal Cinemas owner Cineworld has officially filed for bankruptcy.
Update: AMC Entertainment Holdings Inc (NYSE: AMC) shares snapped their recovery above the $10 mark on Tuesday, as they sank in tandem with a global sell-off fuelled by hotter US inflation data. An upside surprise to the monthly Core CPI combined with upbeat headline inflation from the US cemented a 75 bps Fed rate hike for next week, sending major Wall Street indices deep in the red. Earlier in Tuesday’s trading, AMC stock price was trending higher on increased investors' interest. In the wake of the sell-off, AMC stock price eroded 4.89% on the day and surrendered the $10 level to settle at $9.72 per share.
NYSE:AMC extended its streak to four consecutive positive sessions as the meme stock climbed back above the $10.00 price level. On Monday, shares of AMC gained a further 5.14% and closed the trading session at a price of $10.22. Stocks also extended their rally from last week as all three major indices closed higher. The rally comes ahead of the key August CPI report that is set to be released on Tuesday. Overall, the Dow Jones gained 229 basis points, the S&P 500 added 1.06%, and the NASDAQ rose higher by 1.27% during the session.
Stay up to speed with hot stocks' news!
AMC and Walt Disney (NYSE:DIS) extended their partnership as announced by AMC CEO Adam Aron via Twitter on Monday. Disney+ subscribers will now get access to exclusive screenings at AMC theaters as a paper of their monthly subscription fee. The move is a good one for AMC which allows users back into the theater environment while also capitalizing on refreshments which are a high margin revenue for the company. It’s not the first time the two companies have worked together like this. As recently as the end of August, AMC held the Disney+ Day which screened familiar Disney films at a discounted ticket price.
AMC APE preferred stock price
British Cinema operator Regal Cinemas which is owned by Cineworld Group plc (LON:CINE), has officially announced it is filing for bankruptcy. The move was very much anticipated for the company and shares fell a further 24% on Monday and is now down by 91% for the year. AMC has reiterated that it is not close to filing for bankruptcy, especially after investors helped to raise $1 billion cash last year and even more this year after the debut of the APE (NYSE:APE) preferred shares.
Previous updates
Update: AMC Entertainment Holdings Inc (NYSE: AMC) shares were trading higher again on Tuesday amid continued retail investor interest with such platforms as Reddit's r/wallstreetbets taking up the potential of a short squeeze. This follows the fundamental news that the world's second-largest movie theatre chain Cineworld Group filed for bankruptcy. Meanwhile, from a technical standpoint, the price has corrected over a 23.6% Fibonacci retracement and would be expected to continue correcting to at least the structure mark near to the 38.2% ratio around $11.33 in the coming days.
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.