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AMC’s stock extends losing streak to four days

January 13, 2024
in Business
AMC’s stock extends losing streak to four days
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Shares of AMC Entertainment Holdings Inc. ended Friday’s session down 3%, continuing the stock’s run of record lows and extending its losing streak to four days. 

The slide is AMC’s
AMC,
-2.98%
longest since a five-day losing streak that ended Jan. 5. AMC’s stock, which ended the session at $4.56, has hit a series of record-low closes recently and ended Thursday’s session at a then all-time low of $4.70. The stock’s recent performance reflects the demise of the movie-theater chain’s meme-stock status.

Related: AMC’s stock hits another record low, extends losing streak to three days

The company’s shares are down more than 98% from their all-time closing high of $339.05 on June 2, 2021, according to Dow Jones Market Data, based on available data going back to Dec. 18, 2013.

Three years ago, AMC went from a beleaguered pandemic victim to a meme-stock phenomenon. Boosted by the WallStreetBets crowd on Reddit, AMC used a steep rise in its share price to tap into equity and debt markets, raising $917 million in January 2021.

Related: This is what we can expect to see from meme stocks in 2024

The stock is currently down nine of the past 10 days and has fallen more than 12% during its four-day losing streak, according to Dow Jones Market Data.

AMC’s stock is down 89.8% in the last 52 weeks, compared with the S&P 500 index’s
SPX
gain of 19.6%.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MarketWatch – https://www.marketwatch.com/story/amcs-stock-on-pace-to-continue-run-of-record-lows-and-extend-losing-streak-to-four-days-2592a180?mod=mw_rss_topstories

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