- NYSE:AMC is down 22.44% so far in 2022.
- Scream 5 overtakes Spider Man: No Way Home at the box office this past weekend.
- AMC passed up a tremendous opportunity to raise capital at the expense of shareholders' loyalty.
NYSE:AMC investors are still reeling from the stock losing nearly 75% of its value in the past six months. All seemed to be going according to plan for Reddit traders after the stock saw a short squeeze to all-time highs back in June of 2021. Since then, it has been all downhill and it is clear that AMC Apes are starting to think about other stocks. Paper hands have become an insult on social media, but as the stock continues to dip back to its original price levels, it is understandably becoming more difficult to hold as a part of any stock portfolio.
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After four straight weeks in the top spot at box offices around the country, Spider Man: No Way Home was finally dethroned by the newest installment of the Scream series. Scream 5 managed to bring in over $34 million in ticket sales, for one of the better opening weekends during the COVID-19 pandemic. Scream was able to fend off the new Matrix movie, which was also made available on HBO Max and Apple TV. This could have reduced some of the box office sales, handing Scream the victory.
AMC stock forecast
Perhaps AMC is now regretting not taking the chance to raise capital back in June to stay in the good graces of its shareholders. The company could have sold shares at the high point of $72.62, but CEO Adam Aron said he would rather hold for now and not dilute the stock any further. Well, things seem different now that Aron has sold over $40 million of his own stock over the past while, something that AMC shareholders have been openly critical of.
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