Shares of AMC Entertainment Holdings Inc. hit another record-low close Wednesday, extending their losing streak to two days.
The movie-theater chain and original meme stock
AMC,
ended the session down 2.6% at $4.91, an all-time low, according to Dow Jones Market Data, based on available data going back to Dec. 18, 2013.
Related: Original meme stock AMC hits another record-low close
The stock hit a then-record-low close of $5.04 Tuesday, below its previous record-low close of $5.17, which came on Jan. 5. Last week AMC’s stock hit a series of record lows, reflecting the demise of the movie-theater chain’s meme-stock status.
AMC shares are down seven of the past eight days. The stock is also down two consecutive days, falling more than 6% over this period, Dow Jones Market Data show.
Related: This is what we can expect to see from meme stocks in 2024
AMC’s stock is down 88.7% in the last 52 weeks, compared with the S&P 500 index’s
SPX
gain of 20.5%.
On Sunday, AMC Chief Executive Adam Aron expressed the movie-theater chain’s “eternal gratitude” to Taylor Swift after the singer-songwriter’s concert film, for which AMC served as the distributor, broke another record.
Related: AMC CEO sends Taylor Swift ‘eternal gratitude’ as Eras Tour concert film makes history
Variety reported Sunday that “Taylor Swift: The Eras Tour” has earned more than $261.6 million globally, making it the highest-grossing concert and documentary film in history, surpassing “Michael Jackson’s This Is It.”
Read the full article here
