AMC Entertainment Holdings Inc., the famous movie-theater chain and original meme stock, is experiencing another record-low close as its shares continue to decline. Currently down 1.9% at around $4.95, this would mark an all-time low for the stock, according to Dow Jones Market Data. The available data shows that this is the lowest point since December 18, 2013^1^.
Sustained Downtrend and Breaking Records
On Tuesday, the stock closed at a record-low of $5.04, surpassing its previous record-low close of $5.17 on January 5. This decline further emphasizes the downfall of AMC’s meme-stock status. The past week has been especially challenging for the company, as AMC shares have hit multiple record lows^1^.
Over the past eight days, AMC shares have been down for seven of them. In addition, the stock has experienced a consecutive two-day decline, with a decrease of more than 6% during this period, according to Dow Jones Market Data^1^.
Performance Over the Past Year and Comparison with S&P 500
In the last 52 weeks, AMC’s stock has dropped by 88.61%. This stands in stark contrast to the S&P 500 index’s gain of 20.4% over the same period^1^.
Recognition for Taylor Swift’s Concert Film
AMC CEO Adam Aron expressed his “eternal gratitude” to Taylor Swift after her concert film, distributed by AMC, achieved remarkable success. Titled “Taylor Swift: The Eras Tour,” the film has earned over $261.6 million globally, surpassing “Michael Jackson’s This Is It” to become the highest-grossing concert and documentary film in history^1^.
As AMC continues to face challenges in the stock market, it remains to be seen how the company will navigate the evolving landscape moving forward.