AMC Stock Price: AMC Entertainment continues sell-off on Wednesday
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UNLOCK OFFER- NYSE:AMC sheds over 7% in a risk-averse environment.
- Meme stocks fall yet again after AMC CEO’s paper hands.
- AMC investors hope Scream will provide a post-Spider Man jolt.
Update, January 19: After dropping 8.5% on Tuesday to settle at $18.82, AMC stock gave away another 3.3% in mid-morning trading on Wednesday. Shares of AMC began the session trading around $19 but then sold off in the second hour, down to $18.20 at the moment. The sell-off brings the once bouyant meme stock to 8-month lows circa May 2021 as the market has turned in 2022 to fixed-income and value stocks.
NYSE:AMC investors might be seeing an end to the magical run that saved the company from bankruptcy in 2021. On Friday, shares of AMC fell a further 0.44% and closed the trading day at $20.57. Shares have now lost 22% since the start of 2022 and more than 43% since the last short squeeze back in June. It hasn’t been an easy market to navigate for any company so far in 2022, and on Friday it was blue-chip stocks that felt the wrath of investors. Several bank stocks including JPMorgan (NYSE:JPM reported their earnings on Friday, and the industry tumbled as lowered guidance and inflationary headwinds caused unrest in value stock investors.
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Meme stocks also fell once again on Friday, leading many to believe that the meme stock craze is waning. AMC’s main running mate GameStop (NYSE:GME) also fell on Friday, as the video game retailer that is in the middle of a digital transformation fell a further 4.76% to close the week. AMC Apes have been noticeably irritated by CEO Adam Aron exhibiting paper hands and selling off major chunks of AMC’s stock. It was also revealed that Chief Content Officer Elizabeth Frank also sold off 46,165 shares of AMC on Monday.
AMC stock forecast
Despite December being the best month at the box office since the pandemic started, AMC shares continued on their downward descent. After Spider Man: No Way Home broke box office records and dominated domestic theaters for four weeks, AMC is now looking to Scream 5 to bring moviegoers back into their seats. Rising cases of the Omicron variant that is still rapidly spreading across the US could also have an impact on box office sales this weekend.
Previous update
Update: NYSE:AMC is down roughly 8% heading into the close, changing hands at $18.96 per share. Wall Street is a sea of red after the long weekend, as US government bond yields started the week reaching fresh 2-year highs. The 10-year US Treasury yield soared to a fresh two-year high of 1.856%, while the yield on the 2-year bond reached 1.059% The 10-year US Treasury yield soared to a fresh two-year high of 1.856%, while the yield on the 2-year bond reached 1.059%. In the absence of other catalysts, investors focused on the upcoming US Federal Reserve monetary policy decision and higher chances of an even tighter policy in the near-term.
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- NYSE:AMC sheds over 7% in a risk-averse environment.
- Meme stocks fall yet again after AMC CEO’s paper hands.
- AMC investors hope Scream will provide a post-Spider Man jolt.
Update, January 19: After dropping 8.5% on Tuesday to settle at $18.82, AMC stock gave away another 3.3% in mid-morning trading on Wednesday. Shares of AMC began the session trading around $19 but then sold off in the second hour, down to $18.20 at the moment. The sell-off brings the once bouyant meme stock to 8-month lows circa May 2021 as the market has turned in 2022 to fixed-income and value stocks.
NYSE:AMC investors might be seeing an end to the magical run that saved the company from bankruptcy in 2021. On Friday, shares of AMC fell a further 0.44% and closed the trading day at $20.57. Shares have now lost 22% since the start of 2022 and more than 43% since the last short squeeze back in June. It hasn’t been an easy market to navigate for any company so far in 2022, and on Friday it was blue-chip stocks that felt the wrath of investors. Several bank stocks including JPMorgan (NYSE:JPM reported their earnings on Friday, and the industry tumbled as lowered guidance and inflationary headwinds caused unrest in value stock investors.
Stay up to speed with hot stocks' news!
Meme stocks also fell once again on Friday, leading many to believe that the meme stock craze is waning. AMC’s main running mate GameStop (NYSE:GME) also fell on Friday, as the video game retailer that is in the middle of a digital transformation fell a further 4.76% to close the week. AMC Apes have been noticeably irritated by CEO Adam Aron exhibiting paper hands and selling off major chunks of AMC’s stock. It was also revealed that Chief Content Officer Elizabeth Frank also sold off 46,165 shares of AMC on Monday.
AMC stock forecast
Despite December being the best month at the box office since the pandemic started, AMC shares continued on their downward descent. After Spider Man: No Way Home broke box office records and dominated domestic theaters for four weeks, AMC is now looking to Scream 5 to bring moviegoers back into their seats. Rising cases of the Omicron variant that is still rapidly spreading across the US could also have an impact on box office sales this weekend.
Previous update
Update: NYSE:AMC is down roughly 8% heading into the close, changing hands at $18.96 per share. Wall Street is a sea of red after the long weekend, as US government bond yields started the week reaching fresh 2-year highs. The 10-year US Treasury yield soared to a fresh two-year high of 1.856%, while the yield on the 2-year bond reached 1.059% The 10-year US Treasury yield soared to a fresh two-year high of 1.856%, while the yield on the 2-year bond reached 1.059%. In the absence of other catalysts, investors focused on the upcoming US Federal Reserve monetary policy decision and higher chances of an even tighter policy in the near-term.
Like this article? Help us with some feedback by answering this survey:
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