AMC Stock Price: AMC Entertainment falls to start the week despite buzz from NFT giveaway

  • NYSE: AMC fell by 2.10% during Monday’s trading session.
  • AMC and Sony Pictures have teamed up for an NFT giveaway.
  • AMC had another strong weekend at the box office, despite rising fears of the Omicron variant.

NYSE: AMC shares couldn’t hold on to early session gains on Monday, even as the broader markets rebounded from Friday’s sell off. Shares of AMC fell by 2.10% and closed the first trading session of the week at $36.84. Like it’s meme stock running mate GameStop (NYSE: GME), AMC had a rough week last week, as shares plunged by over 11%. It was more of the same on Monday, despite the broader markets rallying. The S&P 500 and NASDAQ both surged by 1.32% and 1.88% respectively, while the Dow Jones added back 236 basis points after having its worst session of 2021 on Friday. 

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The buzz around AMC this morning was an announcement regarding tickets for the upcoming Sony Pictures film Spiderman: No Way Home. Evidently, Sony will be giving away 86,000 NFTs to specific members who pre-order tickets for the film. One of these groups includes AMC Investor Connect, which is a way in which AMC is rewarding its shareholders with exclusive giveaways and offers. The highly anticipated Marvel movie has already crashed several pre-order ticket sites since tickets have been on sale, ahead of its theatrical debut on December 16th. 

AMC stock forecast

AMC Stock

It was another strong weekend at the box office this week, despite ongoing fears of the Omicron variant making its way stateside. Fueling this surge in ticket sales was the debuts of the House of Gucci and the newest animated film from Walt Disney (NYSE: DIS), Encanto. The holidays are a popular time of year to attend at the cinema, particularly this year where COVID-19 delayed many Hollywood blockbusters until the fall and winter.

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