AMC Stock Price: AMC Entertainment edges higher as bond takes top spot at domestic theaters

NYSE:AMC gained 0.16% during Monday’s trading session.
The newest Bond movie takes top spot in its North American debut.
Another mixed session for meme stocks as OPEX week begins.

NYSE:AMC surged out of the open on Monday, but the lead meme stock was caught up in the late day sell-off erasing most of the gains from earlier in the day. Shares of AMC gained 0.16% and closed the trading session at $37.25. The stock seems to have found a bottom after its recent freefall, as AMC has now gained about 1.0% over the past week after falling by 28% during the past month. Monthly OPEX or options expiry weeks usually lead to stock prices being more or less pinned below highly bought strike prices, so AMC could be trading sideways in the short-term.

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Another weekend another blockbuster debut from Hollywood at movie theaters across the country. This past weekend saw the North American debut of the latest James Bond film, No Time to Die. The film brought in an estimated $56 million in sales at the box office in the U.S. and Canada over the weekend, which makes it the fourth highest grossing debut for a Bond film in the near 60 year history of the franchise. The film still trails Marvel releases like Venom: There Will be Carnage and Shang Chi, the latter of which has now surpassed $400 million in ticket sales.

AMC stock forecast

It was another mixed session for the meme sector to start the week and AMC was not the only stock to close the day higher. GameStop (NYSE:GME) reclaimed its spot atop the most searched for stocks in r/WallStreetBets on Monday, and the stock gained 3.04% as a result. Shares of Vinco Ventures (NASDAQ:BBIG) and Greenidge Generational Holdings (NASDAQ:GREE) were also trading higher. On the flip side, ContextLogic (NASDAQ:WISH) and Camber Energy Inc (NYSEAMERICAN:CEI) were below the water line to start the week.

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