Original Meme Stock AMC hits another record low.
Shares of AMC Entertainment Holdings Inc. hit another all-time low Tuesday.
The stock closed Tuesday’s session at $5.04, below its previous all-time low of $5.17 set on Jan. 5. Last week, AMC’s AMC
The stock hit a series of record lows, reflecting the collapse of the movie theater chain’s meme stock status.
Related: AMC stock prices continued to decline for five days in a row and hit an all-time low.
AMC stock fell for its fifth straight day on Monday, but ended Tuesday’s session down more than 4%. That’s a far cry from AMC’s meme stock heyday, when the stock hit an all-time high of $339.05 on June 2, 2021, according to Dow Jones Market Data, citing available data through Dec. 18, 2013.
AMC’s stock has fallen 85.9% over the past 52 weeks, while the SPX has gained 21.4% in the S&P 500.
Related: Here’s what you can expect from meme stocks in 2024.
On Sunday, AMC CEO Adam Aaron expressed the movie theater chain’s “eternal gratitude” to Taylor Swift after the singer-songwriter’s concert film, of which AMC is a distributor, broke another record.
Variety reported Sunday that “Taylor Swift: Eras Tour” has grossed more than $261.6 million worldwide, surpassing “Michael Jackson’s This Is It” to become the highest-grossing concert and documentary film of all time.
