Shares of AMC Entertainment Holdings Inc. fell 3.7% Wednesday, outpacing the S&P 500’s decline of 0.6%.
AMC’s AMC stock fell on trading volume of 8.23 million shares, below its 65-day average of 28.18 million shares. Some 20.5% of the float was shorted. Shares of the movie-theater chain and meme-stock darling have risen 9.5% in 2023, outpacing... Shares of AMC Entertainment Holdings Inc. fell 3.7% Wednesday, outpacing the S&P 500’s decline of 0.6%.
AMC’s AMC stock fell on trading volume of 8.23 million shares, below its 65-day average of 28.18 million shares. Some 20.5% of the float was shorted. Shares of the movie-theater chain and meme-stock darling have risen 9.5% in 2023, outpacing the S&P 500’s SPX 8.9% gain.AMC recently reported better-than-expected first-quarter revenue and adjusted earnings. Earlier this month, AMC also reached an agreement to settle a shareholder lawsuit over the conversion of AMC Preferred Equity units into common stock.Of eight analysts surveyed by FactSet, three have a hold rating and five have a sell rating for AMC.