AMC meme revival pits trader euphoria versus big block trade
Phil Serafino and Bailey Lipschultz, Bloomberg News A vehicle passes in front of an AMC movie theater at night in the Times Square neighborhood of New York, U.S., on Tuesday, Oct. 15, 2020. AMC Entertainment Holdings Inc. is considering a range of options that include a potential bankruptcy to ease its debt load as the pandemic keeps moviegoers from attending and studios from supplying films. Photographer: Amir Hamja/Bloomberg , Bloomberg
AMC Entertainment Holdings Inc. posted its longest rally since 2018 as individual investor desire to trade meme stocks was reawakened.
AMC ended the day higher by 0.6 per cent to US$14.03 even after traders circulated news that a 17 million share block trade was said to price at US$14.20 each. The movie-theater chain flipped between gains and losses amid heightened trading volume for a fourth straight-session.
AMC meme revival propels it toward longest streak since 2018
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Why Is AMC Entertainment Trading Higher Again Today?
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Is AMC Entertainment Stock About To Go Lower?
AMC Entertainment Holdings, Inc. (NYSE:AMC) may be about to give back some of its recent gains.
The stock has run into resistance around the $14 level. When it reached this level in March, the bears overpowered the bulls and forced the stock lower.
Markets can have memories in the sense that certain levels can be important for long periods of time. Sometimes, the importance can last for months or even longer. This looks to be the case with the $14 level for AMC.
What s Up With AMC Stock Today?
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