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Last updated: January 12, 2024 at 5:54 PM ET
First Published: January 12, 2024 at 2:07 PM ET
AMC Entertainment Holdings stock ended Friday trading down 3%, extending its losing streak to four days as the stock continues to hit record lows.
This was the longest decline for AMC stock since a five-day losing streak that ended on January 5th. AMC’s stock price closed at $4.56, but continued to set new record lows in recent closings, ending Thursday’s trading at its then-all-time low. $4.70. The stock’s recent performance reflects the end of the movie theater chain’s status as a meme stock.
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AMC Entertainment Holdings stock ended Friday trading down 3%, extending its losing streak to four days as the stock continues to hit record lows.
Slides are from AMC
AMC
AMC stock, which closed at $4.56, continues to set new record closing prices in recent days, ending Thursday’s trading at a then-all-time low of $4.70. The stock’s recent performance reflects the end of the movie theater chain’s status as a meme stock.
Related: AMC stock hits record low again; losing streak extends to 3rd day
According to Dow Jones Market Data, the company’s stock price is more than 98% from its all-time closing price of $339.05 on June 2, 2021, based on available data dating back to December 18, 2013. It’s falling.
Three years ago, AMC went from being a beleaguered victim of the pandemic to a meme-stock phenomenon. Buoyed by his WallStreetBets crowd on Reddit, AMC took advantage of the stock price surge to enter the stock and bond markets, and in January 2021 he raised $917 million.
Related: Here’s what to expect from meme stocks in 2024
The stock has now fallen nine of the past 10 days, dropping more than 12% during a four-day losing streak, according to Dow Jones Market Data.
AMC stock is down 89.8% over the past 52 weeks, compared to the S&P 500’s SPX gain of 19.6%.
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