AMC Stock Price: AMC Entertainment jumps as theater chain adds more locations

NYSE: AMC gained % during Tuesday’s trading session.
AMC adds a couple new prime locations in California and Washington DC.
AMC is back in the NFT game ahead of the much anticipated release of the Batman.

Stocks Reporter FXStreet

NYSE: AMC finally saw some life on Tuesday as stocks were lifted after a sluggish start to the week on Monday. Shares of AMC jumped higher by 10.19% and closed the trading session at $16.43. It was the largest gain so far in 2022 for the beleaguered meme stock, and despite the move shares are still down by more than 38% since the start of the year. All three major indices closed the session in the green as the NASDAQ led the way adding 1.28%, while the S&P 500 gained 0.84%. Meanwhile, the Dow Jones Industrial Average closed higher by 371 basis points on strong performances from Amgen (NASDAQ: AMGN), JPMorgan (NYSE: JPM), and American Express (NYSE: AXP).

Stay up to speed with hot stocks' news!

AMC did report some good news on Tuesday, as the theater chain is taking over a couple of prime locations from Arclight theaters. The two new theaters will be in San Diego and Washington DC, and is likely a part of the company’s long-term plan of making it through the ongoing pandemic. The company continues to take over leases of theater complexes that have closed down during the pandemic, and is reportedly still seeking out additional locations to add to its 950 global locations.

AMC stock forecast

AMC is also holding another exclusive NFT giveaway for people who reserve tickets to the Batman movie through AMC’s website or mobile app. The company previously held giveaways for Spider Man: No Way Home and an initial giveaway for shareholders last year. NFTs or non fungible tokens are becoming popular collectibles for those who are interested in blockchain technology.

Like this article? Help us with some feedback by answering this survey:

Author

Stocks Reporter

FXStreet

GBP/USD flirts with tops near 1.3470

GBP/USD manages to regain composure and challenge the area of daily highs around 1.3470 on Friday. Cable picks up pace despite marginal gains in the Greenback in a context of swelling geopolitical tensions and rising global oil prices.

EUR/USD trims losses, back above 1.1500

EUR/USD picks up some pace and bouces off earlier lows, reclaiming the 1.1500 threshold and beyond at the end of the week. The pair’s modest pullback follows a persistent risk-averse market mood and renewed buying interest for the US Dollar.

Gold: The $4,000 mark holds the downside for now

Gold faces renewed selling pressure, falling sharply toweard the $4,000 mark per troy ounce as the US Dollar regains momentum. Escalating US-Iran tensions are keeping inflation concerns and expectations of further Fed rate hikes alive, weighing further on the yellow metal.

Bitcoin eyes 50-day EMA breakout, Ethereum consolidates, XRP steadies

Bitcoin, Ethereum, and Ripple trade near key technical levels on Friday as the broader cryptocurrency market pauses following last week's recovery. BTC is approaching the 50-day Exponential Moving Average while ETH continues to consolidate between two major EMAs.

Warsh needs to restore his reputation

We were glad to see our deeply negative reaction to the Warsh press conference was not some personal peculiarity. Just about everybody in the financial press felt the same way. The consensus is building it’s not the Fed in the dog-house but only Warsh. Today the WSJ changed it tune and blasted Warsh—"the honeymoon is already over..”

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.