AMC Stock Price: AMC Entertainment bounces higher and breaks through the $40.00 price barrier
Premium|Take advantage of 60% OFF on your first month.
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
You have reached your limit of 5 free articles for this month.
BLACK FRIDAY SALE! 60% OFF!
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
CLAIM OFFER- NYSE:AMC gained 5.70% during Thursday’s trading session.
- AMC is reversing its trend and could be ready to move higher.
- Meme stocks traded mixed again on Thursday, as short squeeze talk continues.
NYSE:AMC is finally rewarding the diamond hands of patient AMC apes. On Thursday, shares of AMC bounced higher once again, gaining 5.70% to close the trading session at $40.07. It was the first time since the end of September that the stock had finished higher than $40.00 at the closing bell. AMC continues to bounce off its recent support and the lead meme stock has now added 5.67% to its price this week alone. The move higher came on a day where markets rallied as the S&P 500 had its largest jump since March on promising early earnings reports from some bedrock companies.
Stay up to speed with hot stocks' news!
AMC could finally be showing signs that it is finished with its long consolidation downward, a trend that has been in effect since the last squeeze in June. A nice bounce off its recent support levels has re-tested a previous resistance trendline, creating a pennant pattern that generally leads to a breakout in one direction or the other. With a strong lineup of upcoming Hollywood blockbusters, AMC stock could see a positive catalyst in a strong second half to the year.
AMC stock forecast
AMC had a big day on Thursday, but its gains paled in comparison to another meme stock that has started to see momentum. Vinco Ventures (NASDAQ:BBIG) skyrocketed by 22.76% today with a strong push into the close. Other meme stocks were mostly trading lower as GameStop (NYSE:GME), Camber Energy (NYSEAMERICAN:CEI), Koss (NASDAQ:KOSS), and ContextLogic (NASDAQ:WISH) all finished the day in the red.
- NYSE:AMC gained 5.70% during Thursday’s trading session.
- AMC is reversing its trend and could be ready to move higher.
- Meme stocks traded mixed again on Thursday, as short squeeze talk continues.
NYSE:AMC is finally rewarding the diamond hands of patient AMC apes. On Thursday, shares of AMC bounced higher once again, gaining 5.70% to close the trading session at $40.07. It was the first time since the end of September that the stock had finished higher than $40.00 at the closing bell. AMC continues to bounce off its recent support and the lead meme stock has now added 5.67% to its price this week alone. The move higher came on a day where markets rallied as the S&P 500 had its largest jump since March on promising early earnings reports from some bedrock companies.
Stay up to speed with hot stocks' news!
AMC could finally be showing signs that it is finished with its long consolidation downward, a trend that has been in effect since the last squeeze in June. A nice bounce off its recent support levels has re-tested a previous resistance trendline, creating a pennant pattern that generally leads to a breakout in one direction or the other. With a strong lineup of upcoming Hollywood blockbusters, AMC stock could see a positive catalyst in a strong second half to the year.
AMC stock forecast
AMC had a big day on Thursday, but its gains paled in comparison to another meme stock that has started to see momentum. Vinco Ventures (NASDAQ:BBIG) skyrocketed by 22.76% today with a strong push into the close. Other meme stocks were mostly trading lower as GameStop (NYSE:GME), Camber Energy (NYSEAMERICAN:CEI), Koss (NASDAQ:KOSS), and ContextLogic (NASDAQ:WISH) all finished the day in the red.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.