AMC Stock Price: AMC Entertainment hits freefall as investors turn on CEO

  • NYSE:AMC fell by 9.07% during Thursday’s trading session.
  • AMC investors did not look kindly upon CEO Adam Aron selling more shares.
  • Yahoo Finance and 40 Finance named GameStop and AMC the top retail victory in history.

NYSE:AMC is officially in freefall as the stock hit an eight-month low during Thursday’s trading session. Shares of the meme stock tumbled by a further 9.07% and closed the day at $20.66. Shares of AMC are now down over 22% since the start of the year with no end to the pain in sight for AMC Apes. Even coming off of the best month at the box office since the pandemic started, AMC’s stock has not been able to show any signs of turning itself around. Fellow meme stock GameStop (NYSE:GME) has shown some promise in terms of transforming its business, but it has been the same story with shares down 20% since the calendar flipped.

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Unfortunately for CEO Adam Aron, his loyal Apes have not looked too kindly upon his recent sale of stock. Aron sold a further $7 million in shares earlier this week and has promised on social media that there will not be any further sales. Still, the very mantra behind the AMC Reddit Revolution has been to have diamond hands with AMC’s stock. Now that the leader of the company is selling, there might not be much incentive for retail investors to hold on.

AMC stock forecast

AMC Stock

Yahoo Finance and popular YouTube channel 40 Finance recently named the AMC and GameStop short squeeze as the greatest victory in the history of retail trading. As we approach the one year anniversary, AMC and GameStop both see their stocks struggling to hold their inflated levels. The more that time passes, the less chance there seems to be for another short squeeze to happen.

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