AMC Stock Price: AMC entertainment gains as IMAX reports third quarter earnings

NYSE:AMC gained 1.35% during Thursday’s trading session.
Rival IMAX reports its earnings and an interesting partnership.
Meme stocks were back on the rise on Thursday.

Stocks Reporter FXStreet

NYSE:AMC Apes are looking ahead to next week’s earnings report from AMC, as the company tries to continue its recovery following the COVID-19 pandemic. Shares of AMC gained 1.35% during Thursday’s session and closed the trading day at $35.23. With the move higher, AMC has recaptured the key 200-day moving average, which indicates that the stock has been trending higher in the long-term, despite a rocky month of September. AMC moved higher alongside the broader markets, as all three major U.S. indices closed Thursday in the green following a bearish day on Wednesday. The markets could be in for a rude awakening on Friday, as Apple (NASDAQ:AAPL) and Amazon (NASDAQ:AMZN) missed consensus estimates during their earnings calls after the closing bell.

Stay up to speed with hot stocks' news!

One of AMC’s rivals, IMAX (NYSE:IMAX) reported its earnings on Thursday and saw a 52% year-over-year rise in quarterly revenues. This indicates that moviegoers are flocking back to theaters despite the ongoing threat of COVID-19. IMAX also reported that it is inactive negotiations with leading streaming platforms to feature exclusive content and movies at IMAX theaters. This could be one way that theaters attract customers back after the pandemic, although given the choice to stream at home, it may not be as lucrative as IMAX believes it to be.

AMC stock forecast

AMC wasn’t the only meme stock on the rise on Thursday. GameStop (NYSE:GME), ContextLogic (NASDAQ:WISH), Vinco Ventures (NASDAQ:BBIG), and Camber Energy Inc (NYSEAMERICAN:CEI) all finished the session in the green. As did Trump-related meme stocks Digital World Acquisition Corp (NASDAQ:DWAC) and Phunware, Inc. (NASDAQ:PHUN), gaining 12.13% and 0.21% respectively

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

Author

Stocks Reporter

FXStreet

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.