AMC's Stock Extends Its Losing Streak to Four Days

AMC Entertainment Holdings Inc. witnessed a downturn in its shares during Friday's session, marking a 3% decline. This further extended the stock's record-breaking lows, culminating in a four-day losing streak. This slide represents AMC's lengthiest decline since the five-day period concluding on January 5. The stock closed the session at $4.56, registering a series of recent record-low closes. Notably, in the preceding session, it had reached an all-time low of $4.70. The recent performance of AMC's stock is indicative of the fading meme-stock status of the movie-theater chain.

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The current state of affairs marks a stark contrast to AMC's position three years ago when it transitioned from a beleaguered pandemic victim to a meme-stock phenomenon. During that phase, propelled by the WallStreetBets community on Reddit, AMC leveraged a substantial increase in its share price to access equity and debt markets. This strategic move enabled the company to raise a substantial $917 million in January 2021.

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Reflecting the extent of the decline, AMC's shares have now plummeted by over 98% from their historical closing high of $339.05 recorded on June 2, 2021, as reported by Dow Jones Market Data. This analysis is based on available data dating back to December 18, 2013.

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The recent downward trend in AMC's stock is evident in its performance over the last 52 weeks, where it has witnessed an 89.8% decrease. This stands in stark contrast to the S&P 500 index's gain of 19.6% during the same period, emphasizing the substantial underperformance of AMC in the broader market.

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The prevailing losing streak has seen AMC's stock decline for nine out of the past ten days, resulting in a cumulative fall of over 12%, according to Dow Jones Market Data. The prolonged downturn underscores the challenges faced by the movie-theater chain in the current market conditions.

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In summary, AMC Entertainment Holdings Inc. is grappling with an extended period of decline in its stock value, experiencing record lows and a notable losing streak. The company's current predicament contrasts sharply with its past meme-stock glory, with the decline attributed to various market factors. AMC's struggle is reflected not only in its recent stock performance but also in its substantial depreciation over the past 52 weeks compared to broader market indices.