AMC Stock Price: AMC Entertainment trades flat despite broader market rally

NYSE:AMC gained 0.04% during Tuesday’s trading session.
December was the best month for the box office since the pandemic started.
Meme stocks are holding inflated prices as we approach the 1-year anniversary of the Reddit Rebellion.

Stocks Reporter FXStreet

NYSE:AMC failed to capitalize on a market rebound on Tuesday as the lead meme stock continues to struggle in 2022. Over the past six months, shares of AMC have now dropped by 46.5% following the most recent squeeze in June. On Tuesday, shares of AMC edged higher by 0.04% and closed the trading day at $22.79. It was a nice day of recovery for the broader markets as all three major indices finished higher. The NASDAQ led the way after its recent brutal selloff, as the tech-heavy index gained 1.41% for its second consecutive positive day to start the week.

Stay up to speed with hot stocks' news!

Unfortunately for AMC Apes, the stock continues to fall despite December of 2021 being the best month for box office ticket sales since the pandemic started. Much of this success was brought on by easing restrictions in most metropolitan areas, as well as the mega-success of the latest Marvel movie Spider-Man: No Way Home. Still, it must be discouraging to investors who are waiting for another squeeze, as AMC has shown no indication of being able to return to those previous highs.

AMC stock forecast

We are fast approaching the one-year anniversary of the Reddit rebellion that took the global markets by storm in January of 2021. Of note, AMC and GameStop (NYSE:GME) are still holding a lot of their inflated stock prices, as the two stocks are still up 895% and 553% respectively over the past 52-weeks. The two primary meme stocks have certainly fallen from their all-time highs, but one-year later we still see the stock prices separate from the fundamentals of the company.

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.