AMC Entertainment (NYSE:AMC) stock isn’t doing so hot on Friday following news of the movie theater chain’s CEO Adam Aron selling $7 million worth of shares.Source: rblfmr/Shutterstock.com
The company’s CEO has hampered investor confidence in AMC stock. It also kicked off a trend on Twitter (NYSE:AMC) of investors posting about their positions in the company alongside the “#AMCNOTLEAVING” hashtag.
For those somehow unaware, AMC stock caught meme status last year along with GameStop (NYSE:GME) and several other companies. These stocks drew in investors looking to squeeze out shorts while driving the price higher.
Let’s dive into what’s being said in that hashtag below!
AMC Stock Twitter Talk
— Kat Stryker (@KatStryker111) January 13, 2022
HOLD ON TO YOUR DIAMOND BALLZ N TATA'S….
….IT'S 5 FOR A BUCK DAY!!!#AMCNOTLEAVING
— Desiree (@Desireezizi) January 14, 2022
— Jen (@JenatPie) January 14, 2022
AMC might fall 6% today from its current price but buy more and hold it’s not our first clown show watching these circus clown short the stocks. They still have to cover #AMCNOTLEAVING #amcshortsqueeze
— kingmartin (@kingmartain) January 14, 2022
— eliza_dillon (@pumpkinpatch_00) January 14, 2022
So how exactly is today’s news affecting AMC stock? For one thing, we’re seeing a decent amount of trading as of this writing. There are currently some 38 million shares of the stock traded as of Friday afternoon. That’s a good bit of movement, even if it’s still below the stock’s daily average trading volume of about $42.6 million shares.
Traders considering taking a position in AMC stock on today’s dip are free to do so. However, they’ll first want to do their due diligence on the company. While prices are down today and may recover soon, there’s no denying that meme stocks can be incredibly volatile. Keep that in mind when considering any AMC trades today.
AMC stock is down 4.4% as of Friday afternoon and is down 25.5% since the start of the year.
Investors that want to stay up to date on the most recent stock market stories are in luck!
InvestorPlace is here to help with our daily deep dives into the stock market! A few examples from Friday include the news sending NextPlay Technologies (NASDAQ:NXTP) stock higher, why casino stocks are on the rise, as well as Peloton (NASDAQ:PTON) stock taking a beating on an update from the Nasdaq (NASDAQ:NDAQ). You can find out all about these matters by checking out the following links below!
More Stock Market News for Friday
- NXTP Stock: 6 Things to Know About NextPlay Technologies as Shares Soar
- Casino Stocks: Why LVS, WYNN, MGM and MLCO Are Rolling Higher Today
- Goodbye, PTON Stock! What to Know About the Nasdaq-100 News Sending Peloton Stumbling.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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