AMC Stock Price: AMC Entertainment rises as weekend saw 4 million moviegoers

NYSE:AMC gained 0.79% during Tuesday’s session.
The figures are in for the record-setting weekend and investors are pleased.
CEO Adam Aron announces that meme favorite Dogecoin is now accepted.

Stocks Reporter FXStreet

NYSE:AMC rebounded from the sell off on Monday although the meme stock still lagged the broader market during Tuesday’s session. Shares of AMC gained 0.79% and closed the trading day at $37.06. It was a mixed day for meme stocks as AMC and GameStop (NYSE:GME) closed higher, but other stocks like ContextLogic (NASDAQ:WISH), Vinco Ventures (NASDAQ:BBIG), and Camber Energy Inc (NYSEAMERICAN:CEI) all dropped lower. Camber Energy was the big loser on Tuesday as shares fell by more than 50% to $1.53. Meme stocks continued to see volatility even as all three major indices rebounded from Monday’s sell off.

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The numbers for AMC’s record-breaking weekend are in and globally, theaters saw nearly 4 million moviegoers buy tickets. The two main attractions were of course, Venom: There Will be Carnage, and Daniel Craig’s final appearance as James Bond in No Time to Die. Venom brought in over $90 million domestically, while No Time to Die opened internationally first, and is set to debut in the U.S. next week. Judging by the overseas figures, stateside AMC locations should be in for another good weekend.

AMC stock forecast

CEO Adam Aron took to Twitter on Tuesday to reveal that the company is now accepting retail investor’s favorite cryptocurrency, Dogecoin, for the purchase of digital AMC gift cards. While Aron did not give an update on the acceptance of other cryptos like Bitcoin or Ethereum, the announcement for Dogecoin seemed to be enough to please AMC apes and crypto enthusiasts alike. It was reported that even Tesla (NASDAQ:TSLA) CEO Elon Musk supported AMC’s decision to accept Dogecoin. Musk has been a staunch supporter of the meme crypto, which has been one of the reasons that Dogecoin has shot up by nearly 4,500% since the start of the year.

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