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Shares of AMC Entertainment Holdings Inc. ended Friday’s session down 3%, continuing the stock’s run of record lows and extending its losing streak to four days.
The slide is AMC’s
AMC,
longest since a five-day losing streak that ended Jan. 5. AMC’s stock, which ended the session at $4.56, has hit a series of record-low closes recently and ended Thursday’s session at a then all-time low of $4.70. The stock’s recent performance reflects the demise of the movie-theater chain’s meme-stock status.
Related: AMC’s stock hits another record low, extends losing streak to three days
The company’s shares are down more than 98% from their all-time closing high of $339.05 on June 2, 2021, according to Dow Jones Market Data, based on available data going back to Dec. 18, 2013.
Three years ago, AMC went from a beleaguered pandemic victim to a meme-stock phenomenon. Boosted by the WallStreetBets crowd on Reddit, AMC used a steep rise in its share price to tap into equity and debt markets, raising $917 million in January 2021.
Related: This is what we can expect to see from meme stocks in 2024
The stock is currently down nine of the past 10 days and has fallen more than 12% during its four-day losing streak, according to Dow Jones Market Data.
AMC’s stock is down 89.8% in the last 52 weeks, compared with the S&P 500 index’s
SPX
gain of 19.6%.
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