AMC Share Price: Shares of AMC fall as meme stocks retreat

NYSE:AMC jumped on Monday after reporting record ticket sales for the weekend as over 2 million Americans attended its theaters. On Tuesday, the stock was unable to continue that momentum as shares of AMC fell by 2.89% to close the trading day at $56.43. The recent short squeeze by retail investors has lost a bit of its wind as of late, and although the stock is still trading at an unreasonably high price level, it is meeting resistance at higher levels as well as a steep dropoff in daily trading volume.

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If it wasn’t already obvious, the New York Stock Exchange has officially labelled AMC as a threshold security. It’s not the first time for AMC, as it was previously given the designation back in December of 2020, alongside the original short squeeze target GameStop (NYSE:GME) which held the designation until January of 2021. The threshold security is mostly a mechanism for the NYSE to detect a high level of naked shorts, something that retail investors have targeted to initiate the recent squeezes. 

AMC stock forecast

AMC’s major spike in ticket sales was due primarily to the opening weekend of F9: The Fast Saga, which is the latest iteration of the Fast & Furious series. Well, AMC shareholders could be in for an even bigger boost when Marvel’s the Black Widow debuts later this summer on July 9th, as it is the first Marvel Universe film to debut since the COVID-19 pandemic closed theaters across the country. One thing to note is that the Black Widow is also being released simultaneously on Disney+ for home viewers, so total ticket sales may not be as staggering a figure as first believed.