AMC Stock Price: AMC Entertainment is in freefall and breaks below $15 level

NYSE:AMC fell by 8.91% during Thursday’s trading session.
January 27th marks the anniversary of AMC’s initial squeeze.
GameStop falls below $100 as meme stocks struggle yet again.

Stocks Reporter FXStreet

NYSE:AMC tumbled on Thursday as the once leader of the meme stock revolution fell for the eleventh consecutive session in January. Shares of AMC plummeted by 8.91% and closed the trading session at $14.52. Surprise, surprise, yet another day where all three major indices close the session in the red. The Dow Jones had a minimal loss, while the S&P 500 fell by 0.54%. The NASDAQ led the way lower once again as the tech-heavy index dropped by 1.40% after weakness in stocks like Tesla (NASDAQ:TSLA), which fell by 11.55% following its quarterly earnings report.

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Thursday marked the one year anniversary to one of the biggest days in the original meme stock short squeeze. On this day in 2021, AMC’s stock jumped from a closing price of $4.96 to an opening price of $20.34 as over 1.2 billion shares changed hands. Despite the stock price falling back down the next week, it was one of the first true squeezes that retail traders coordinated with meme stocks. Fittingly, the platform at the center of the squeeze, Robinhood (NASDAQ:HOOD) fell to its lowest levels as a publicly traded company on Thursday following another disappointing earnings report.

AMC stock forecast

AMC’s fellow meme stock, GameStop (NYSE:GME), fell to its lowest levels in nearly a year as well on Thursday. As much pain as AMC shareholders have been in this year, GameStop shares have also dropped by 39% so far in 2022. Despite an ongoing digital transformation and a new NFT integration with the gaming industry, the markets seem to be losing patience with GameStop and its business.

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Stocks Reporter

FXStreet

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