AMC Stock Price: AMC Entertainment bounces higher and breaks through the $40.00 price barrier

  • NYSE:AMC gained 5.70% during Thursday’s trading session.
  • AMC is reversing its trend and could be ready to move higher.
  • Meme stocks traded mixed again on Thursday, as short squeeze talk continues.

NYSE:AMC is finally rewarding the diamond hands of patient AMC apes. On Thursday, shares of AMC bounced higher once again, gaining 5.70% to close the trading session at $40.07. It was the first time since the end of September that the stock had finished higher than $40.00 at the closing bell. AMC continues to bounce off its recent support and the lead meme stock has now added 5.67% to its price this week alone. The move higher came on a day where markets rallied as the S&P 500 had its largest jump since March on promising early earnings reports from some bedrock companies. 

Stay up to speed with hot stocks' news!

AMC could finally be showing signs that it is finished with its long consolidation downward, a trend that has been in effect since the last squeeze in June. A nice bounce off its recent support levels has re-tested a previous resistance trendline, creating a pennant pattern that generally leads to a breakout in one direction or the other. With a strong lineup of upcoming Hollywood blockbusters, AMC stock could see a positive catalyst in a strong second half to the year. 

AMC stock forecast

AMC Stock

AMC had a big day on Thursday, but its gains paled in comparison to another meme stock that has started to  see momentum. Vinco Ventures (NASDAQ:BBIG) skyrocketed by 22.76% today with a strong push into the close. Other meme stocks were mostly trading lower as GameStop (NYSE:GME), Camber Energy (NYSEAMERICAN:CEI), Koss (NASDAQ:KOSS), and ContextLogic (NASDAQ:WISH) all finished the day in the red. 

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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD trades below 1.1300 after German inflation data

EUR/USD continues to trade in the negative territory below 1.1300 as the American session gets underway. The data from Germany showed on Friday that the Harmonized Index of Consumer Prices, the ECB's preferred gauge of inflation, climbed to 6% on a yearly basis in November, compared to the market expectation of 5.4%.


GBP/USD extends slump below the 1.3300 mark

GBP/USD trades near its 2021 low in the 1.3290 region, as demand for the greenback picked up pace during US trading hours. Market participants are digesting the latest covid-related news, somehow less concerned about its effects on economic developments. 


Gold: En route to challenge the November monthly low

Spot gold gapped lower at the weekly opening. Concerns related to the new coronavirus variant named Omicron hit hard the markets on Friday, although thinned conditions may have exacerbated the reaction to the news, as the US celebrated Thanksgiving on Thursday.

Gold News

Ethereum breaks out of bullish pennant, targets new all-time high at $5,000

Ethereum price lost 14% of its market value in turmoil on Friday. ETH is on the path to recovery with a bullish break out of the pennant. Expect a rally to emerge as tailwinds attribute to new all-time highs.

Read more

Cyber Monday 2021 Discounts!

Glued to your trading screen on Cyber Monday? Upgrade your skills by signing up for FXStreet’s Premium service, offered at a discount of up to 50%. Fellow traders have already taken advantage of Black Friday profits. What about you? 

Subscribe now!