AMC Stock Price: AMC Entertainment retreats during a choppy day for the broader markets

NYSE:AMC fell by 2.54% during Thursday’s trading session.
AMC fans are not too thrilled about the higher price system for new movie releases.
AMC is appealing to younger movie goers as it steps up its blockchain and technology offerings.

Stocks Reporter FXStreet

NYSE:AMC snapped its mini two-day winning streak following its successful earnings call earlier this week. On Thursday, shares of AMC fell by 2.54% and closed the trading day at $18.06. Despite the best quarter the company has had in more than two years, the stock has not been able to retain any upwards momentum as the selling pressure continues to weigh the stock down. The US markets erased most of the gains made on Wednesday as all three major indices retreated during Thursday’s session. The Dow Jones fell by 96 basis points and the S&P 500 and NASDAQ dropped by 0.53% and 1.56% respectively.

Stay up to speed with hot stocks' news!

Apparently AMC’s new premium ticket pricing is not sitting too well with some of its fans. Users on Twitter and Reddit were complaining about the new pricing system, and wanted to remind the company that many of them were still reluctant to go back to movie theaters to begin with. Others threatened to not watch it at an AMC theater or simply wait until the movie is released on streaming apps. It is a fine line AMC is walking, although this could just be the case of a vocal minority voicing their displeasure.

AMC stock forecast

AMC CEO Adam Aron reiterated the fact that the company is going to continue to launch new NFT projects both on its own and alongside movie studios. This comes on the heels of the announcement that AMC’s online site and mobile apps will soon be accepting both DogeCoin and Shiba Inu Token as payment types for tickets and other memorabilia.

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.