It's been a rough week for AMC Entertainment Holdings (NYSE: AMC) investors. The stock has plummeted 35% through the first three days of trading, including back-to-back days of 15% drops.
It seemed as if we were heading into the good news cycle for the country's largest multiplex operator when the week began. Why did Walt Disney (NYSE: DIS) have to crash the party by bumping the theatrical release date for a couple of its highly anticipated films, continuing to make them available online at the same time ?
The good news is that AMC is still one of this year's hottest stocks. Wednesday's tumble did find it closing in the single digits for the first time in two weeks, but AMC Entertainment stock has still more than quadrupled in 2021. Success is also all about perspective. As bad a week as AMC investors are having, things have gone ever worse for the other popular meme stock. Shares of GameStop (NYSE: GME) have plummeted 40% through the first three days of the week.
For further details see:
Is It Time to Buy AMC Entertainment and Sell GameStop?