AMC Share Price: AMC Leads the way as meme stocks rebound to start the week

NYSE:AMC is still beaten down, but you have to give credit to its loyal following for remaining steadfast in their movement. Shares of AMC rebounded on Monday, gaining 8.92% to close the session at $40.29. The broader markets exhibited further trepidation ahead of the monetary policy updates from the Federal Reserve later this week. The major indices were anchored by big tech having a strong day, although small-cap stocks had a whipsaw session with the Russell 2000 eking out a small gain by the closing bell. 

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AMC Apes continued to push the agenda for the SEC to investigate dark pool activity for the stock. The hashtag #DarkPoolAbuse was still trending in Twitter investing circles, as the war against institutional investors continues to be the driving force behind the short squeeze movement. Adding another layer to this, is the impending IPO of the trading platform Robinhood, which retail traders allege manipulated the initial short squeeze of GameStop (NYSE:GME) back in January. Robinhood also sees much of its revenues from payment for order flow, which has been another controversial part of its business model. 

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AMC is also still struggling on the business side of things as U.S. theater locations saw the lowest box office revenues of the summer so far. Total ticket sales failed to reach $70 million for the first time this summer, and is a far cry from two years ago when theaters reported $155 million in revenue for the same weekend. A lack of summer blockbusters and rising delta variant cases are thought to be reasons for the slow box office weekend.