AMC Stock Price: AMC Entertainment closes lower erasing early session gains

NYSE:AMC fell by 2.49% during Friday’s trading session.
AMC CEO Adam Aron is anticipating another big weekend for theaters.
Another rough session for meme stocks to close the week.

Stocks Reporter FXStreet

NYSE:AMC appeared to be well on its way to closing the week higher and carrying over its momentum from Thursday’s session. That is until a sharp reversal following the uninspiring September jobs report sent the broader markets plunging into the red to close out the week. On Friday, shares of AMC fell by 2.49% and closed the trading week at $37.19. It was another down week for the meme stock as shares of AMC lost 4.35% during the week, and are down over 23% during the past month. The losses continue to mount for AMC despite setting pandemic records for theater attendance during the most recent weekend.

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Vocal CEO Adam Aron is definitely anticipating another stellar weekend for theaters. This weekend marks the U.S. debut of the new James Bond movie, No Time to Die. The film set box office pandemic records internationally, and AMC is expecting the movie to do the same in America as well. Aron vocally called out doubters of his company by calling them detractors, and was using the hashtag #CHOKEonTHAT to those who were still down on AMC’s stock. Professional or not, Aron’s tactics have helped to win him favor with retail investors, which has led to the stock climbing to a $19 billion market cap.

AMC stock forecast

Friday closed out with another rough session for meme stocks as AMC was not the only stock to end the week in the red. Stocks like Vinco Ventures (NASDAQ:BBIG), ContextLogic (NASDAQ:WISH), and Camber Energy (NYSEAMERICAN:CEI) all fell on Friday, while legacy meme stock GameStop (NYSE:GME) was one of the few to finish in the green.

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Stocks Reporter

FXStreet

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