AMC Stock News: AMC Entertainment slips lower even as Bed Bath and Beyond continues to soar

NYSE:AMC fell by 4.01% during Friday’s trading session.
Bed Bath and Beyond continues its strong performance for another positive week.
Another slow weekend at the box office as the new Thor film crosses $700 million globally.

Stocks Reporter FXStreet

NYSE:AMC dipped lower to close the week of trading but the movie theater meme stock still managed to post a gain over the past five trading days. On Friday, shares of AMC dropped lower by 4.01% and closed the trading week at $24.44. Stocks closed the week strong as investors embraced the idea of slowing inflation as good news for the broader equities market. All three major indices rose higher as the S&P 500 posted its fourth straight positive week. Overall, the Dow Jones added 424 basis points, the S&P 500 gained 1.73%, and the NASDAQ led the way with a 2.09% rise during the session.

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Even though shares of AMC were trading lower, its meme stock brethren were still making gains on Friday. The flavour of the week, Bed Bath and Beyond (NASDAQ:BBBY) led the way once again, rising by 21.83% on Friday, while GameStop (NYSE:GME) added a further 3.27%. Bed Bath and Beyond has been the strongest performer over the past couple of weeks, and the struggling retailer has now gained more than 150% over the past month of trading.

AMC stock forecast

Another slow summer weekend awaits the box office this week as it appears that Thor: Love and Thunder should once again retain top spot. The latest Marvel film has amassed a total of $700 million across global box offices now, as it appears that the series from Walt Disney (NYSE:DIS) has another smash hit on its hands. The slower summer may reflect a disappointing earnings quarter for AMC, considering that it has historically been the highest grossing season for movie theaters.

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Stocks Reporter

FXStreet

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