Shares of AMC Entertainment Holdings Inc. AMC, -11.00% slumped 10.8% in afternoon trading, putting them on track to suffer a fourth straight loss in which they shed 38.6%. That would be the longest losing streak since the 11-day losing stretch ended Jan. 5, 2021, in which the stock lost 30.5%. Since the stock closed at $19.90 on Jan. 27, the highest close since October 2018, the stock has now plunged 72.3%. The stock has also now retraced 81.9% of the 754.1% rocket ride from the Jan. 15 close of $2.33 to the Jan. 27 close, as part of the trading frenzy that occurred in a number of heavily shorted stocks, such as GameStop Corp. GME, -16.15%. AMC’s stock has still gained 159.9% year to date, while the S&P 500 SPX, -0.11% has tacked on 4.3%.
View Article Origin Here
