- NYSE:AMC fell by 3.0% during Monday’s trading session.
- The new payment upgrades to AMC’s mobile app have not impressed investors.
- Fantastic Beasts 3 struggles at the box office and debuts at a franchise low.
NYSE:AMC extended its recent decline as the meme stock falls further below its 50-day moving average price and erases any gains made in the month of March. On Monday, shares of AMC fell by 3.0% and closed the trading day at $17.48. US markets were lacking direction to start the week, as a series of macroeconomic factors weighed on investors. Talk of imminent rate hikes from the Fed and the start of earnings season seemed to play a role in the volatility on Monday that led to all three major indices closing lower yet again. The Dow Jones edged lower by 39 basis points and the S&P 500 and NASDAQ dipped by 0.02% and 0.14% respectively during the session.
Stay up to speed with hot stocks' news!
AMC’s recent payment upgrades for its mobile app and desktop site have not impressed investors. Last year, CEO Adam Aron polled the Apes about which cryptocurrencies they would like to have added as payment methods. Not surprisingly, retail traders voted for DogeCoin and Shiba Inu Token along with Bitcoin and Ethereum. The additional methods were added last week along with Apple Pay, Google Pay, and PayPal, but thus far it hasn’t moved the needle for the stock despite Aron once again showing he is willing to support his shareholders.
AMC stock price
Easter weekend wasn’t as successful as many in the industry thought it would be as the latest installment of the Harry Potter series had the lowest debut in franchise history. Fantastic Beasts 3 was the top film at the box office, but it only brought in a total of $43 million which narrowly edged out Sonic the Hedgehog 2 in its second week of screenings
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.