AMC Stock Price: AMC Entertainment stumbles 1.3% on Wednesday

UPDATE: AMC stock is down 1.3% at $16.26, or 20 cents a share, 45 minutes into Wednesday's session. The meme stock rose up to $17.02 at the open but has been selling off for the most part ever since. All three major indices are about even.

NYSE: AMC continued its downtrend to start the week despite a strong showing at the box office by the latest Sony blockbuster, Uncharted. On Tuesday, shares of AMC dropped a further 7.99% and closed the trading day at $16.47. Tuesday kicked off what looks to be another tumultuous week for the global markets, as Russia has reportedly made orders to advance on Ukraine. All three indices dropped lower yet again as the S&P 500 officially entered correction territory with Tuesday’s decline. The benchmark index fell by 1.01%, the NASDAQ dropped by 1.23%, and the Dow Jones tumbled by 482 basis points.

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On Tuesday, AMC officially released the date for its upcoming fourth quarter and full year 2021 earnings call. On March 1st, AMC Apes will be able to join in and listen to CEO Adam Aron provide the financial update for the company. Early analyst estimates show that they are expecting AMC to report a loss of $0.26 per share on revenue of around $1.09 billion. It will be interesting to see if major draws like Spider Man: No Way Home can boost AMC’s bottom line higher than what analysts are projecting.

AMC stock forecast

In an interesting new twist from the fall out of the Reddit short squeeze in 2021, the Department of Justice is launching an investigation into trading irregularities for hedge funds. Retail investors have claimed that unfair trading practices have benefited institutional investors, including Payment for Order Flow systems like Robinhood (NASDAQ:HOOD). It remains to be seen if this will have any direct impact on AMC’s stock, but in any case, it could be a psychological win for AMC Apes.