AMC Stock Price: AMC Entertainment dips lower after previous day rally of 12%
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get all exclusive analysis, access our analysis and get Gold and signals alerts
Elevate your trading Journey.
UPGRADE- NYSE:AMC fell by 0.11% during Friday’s trading session.
- AMC investors were likely cheering Melvin Capital’s apparent demise.
- The SEC is clamping down on short sellers with new regulations.
NYSE:AMC didn’t see its rally last for long as Friday saw a return to its losing ways. Shares of AMC fell by 0.11% and closed the trading week at $17.66. It was a one-day rally as of now for AMC and other meme stocks that saw the movie theater chain jump higher by over 12% during Thursday’s session. AMC’s decline came despite the broader markets rallying higher for the second straight day following Russia initiating attacks on Ukraine. The S&P 500 and NASDAQ both jumped higher by 2.24% and 1.64% respectively, while the Dow Jone had a record setting day, adding 834 basis points for its best showing since November of 2020.
Stay up to speed with hot stocks' news!
Thursday’s rally for meme stocks could have been a celebratory one for Apes around the world. It was reported that Citadel, the main antagonist in the meme stock story, was pulling its $2 billion investment from hedge fund Melvin Capital. If you recall, Melvin Capital was the hedge fund that nearly went bankrupt following the initial short squeeze of AMC and GameStop (NYSE:GME) in January of 2021. With Citadel pulling its investment from Melvin Capital, it seems as though Reddit Apes were treating this as a retail victory.
AMC stock forecast
On Friday, the SEC released a couple of proposals that would help to crackdown on short sellers. The new regulation would allow public visibility of institutional investors with a short position of more than $10 million in a given security. These regulations come as a direct result of last year’s meme stock short squeeze, and should help to even the playing field for retail traders.
Like this article? Help us with some feedback by answering this survey:
- NYSE:AMC fell by 0.11% during Friday’s trading session.
- AMC investors were likely cheering Melvin Capital’s apparent demise.
- The SEC is clamping down on short sellers with new regulations.
NYSE:AMC didn’t see its rally last for long as Friday saw a return to its losing ways. Shares of AMC fell by 0.11% and closed the trading week at $17.66. It was a one-day rally as of now for AMC and other meme stocks that saw the movie theater chain jump higher by over 12% during Thursday’s session. AMC’s decline came despite the broader markets rallying higher for the second straight day following Russia initiating attacks on Ukraine. The S&P 500 and NASDAQ both jumped higher by 2.24% and 1.64% respectively, while the Dow Jone had a record setting day, adding 834 basis points for its best showing since November of 2020.
Stay up to speed with hot stocks' news!
Thursday’s rally for meme stocks could have been a celebratory one for Apes around the world. It was reported that Citadel, the main antagonist in the meme stock story, was pulling its $2 billion investment from hedge fund Melvin Capital. If you recall, Melvin Capital was the hedge fund that nearly went bankrupt following the initial short squeeze of AMC and GameStop (NYSE:GME) in January of 2021. With Citadel pulling its investment from Melvin Capital, it seems as though Reddit Apes were treating this as a retail victory.
AMC stock forecast
On Friday, the SEC released a couple of proposals that would help to crackdown on short sellers. The new regulation would allow public visibility of institutional investors with a short position of more than $10 million in a given security. These regulations come as a direct result of last year’s meme stock short squeeze, and should help to even the playing field for retail traders.
Like this article? Help us with some feedback by answering this survey:
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.