AMC’s stock price continued its downward trend, hitting intraday lows and lows.
Shares of AMC Entertainment Holdings Inc. continued their decline Tuesday, hitting intraday lows and then hitting another low.
AMC’s stock AMC,
The session was down 7.7%, extending the losing streak to five days, matching the most recent five-day decline that ended on January 5th. The stock traded as low as $4.13 intraday, according to Dow Jones Market Data. , Based on data available from December 18, 2013.
Related: AMC stock price extends consecutive decline to 4th day
AMC stock closed the session at $4.21, plummeting to another all-time low. The stock recently hit a series of all-time lows, closing Friday’s session at a then-record low of $4.56.
AMC’s recent market performance reflects the movie theater chain’s meme stock status fading away.
Related: Here’s what you can expect from meme stocks in 2024.
The company’s stock price is down more than 98% from its all-time high of $339.05 on June 2, 2021, according to Dow Jones Market Data.
Three years ago, AMC went from a beleaguered pandemic victim to a meme stock phenomenon. Buoyed by Reddit’s r/WallStreetBets crowd, AMC raised $917 million in January 2021, sending its stock price soaring to enter the equity and debt markets.
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But the stock has fallen in 10 of the last 11 trading days and is currently down more than 17% during a five-day losing streak, according to Dow Jones Market Data.
AMC stock is down 90.6% over the past 52 weeks, while the S&P 500’s SPX gain is 19.2%.
