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.

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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.

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Stocks Reporter

FXStreet

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