AMC’s stock continues its slide, hits record intraday low and record-low close
Shares of AMC Entertainment Holdings Inc. continued their slide Tuesday, hitting a record intraday low and another record-low close.
AMC’s stock
AMC,
ended the session down 7.7% and extended its losing streak to five days, matching its recent five-day skid that ended Jan. 5. The stock traded as low as $4.13, a new all-time intraday low, according to Dow Jones Market Data, based on available data going back to Dec. 18, 2013.
Related: AMC’s stock extends losing streak to four days
AMC shares ended the session at $4.21, plummeting to yet another record-low close. The stock has hit a series of record-low closes recently and ended Friday’s session at a then-record low of $4.56.
AMC’s recent market performance reflects the demise of the movie-theater chain’s meme-stock status.
Related: This is what we can expect to see from meme stocks in 2024
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.
Three years ago, AMC went from a beleaguered pandemic victim to a meme-stock phenomenon. Boosted by the r/WallStreetBets crowd on Reddit, AMC parlayed a steep rise in its share price to tap into equity and debt markets, raising $917 million in January 2021.
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But the stock is now down in 10 of the past 11 trading days and has fallen more than 17% during its current five-day losing streak, according to Dow Jones Market Data.
AMC shares are down 90.6% in the past 52 weeks, compared with the S&P 500 index’s
SPX
gain of 19.2%.
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