- NYSE:AMC fell by 3.74% during Monday’s trading session.
- GameStop announced the launch of a non-custodial crypto and NFT wallet.
- Doctor Strange 2 stays on top at the box office for the third straight week.
UPDATE: AMC stock lost 8.3% on Tuesday early in the session to trade at $10.63. The Nasdaq is down 3.3% at the same time as fallout from Snap's reduced outlook has hurt a broad swath of the market. This is especially true of growth and risky stocks. The growth-heavy Nasdaq Composite is down 3.3% on Tuesday morning even as the S&P 500 and Dow are down a reduced 2% and 1.2%, respectively. Over 6,000 call contracts expiring this Friday at a $12 strike price have exchange hands this morning. The last price they traded at was $0.27 per share.
NYSE:AMC started the week off with its third straight decline as the movie theater stock has now erased most of its gains from the previous week. On Monday, shares of AMC dropped by a further 3.74% and closed the trading session at $11.58. The broader markets snapped back on Monday after another week of sharp sell offs that saw all three major indices fall for the seventh consecutive week. The Dow Jones jumped by 618 basis points, while the S&P 500 and the NASDAQ rose by 1.86% and 1.58% respectively during the session.
Stay up to speed with hot stocks' news!
AMC’s running mate, GameStop (NYSE:GME) made a major announcement on Monday as the company continues its digital transformation. The original meme stock company announced that it would be releasing a non-custodial NFT and crypto wallet to be used on the Ethereum layer-2 network called Loopring. The news comes following recent rumors that GameStop is nearing a launch of its NFT marketplace that it is creating with another blockchain company called Immutable X. The Loopring crypto token saw a nice surge following the news but shares of GameStop only had a marginal gain of 0.48% during the session.
AMC stock forecast
It was another relatively slow week at the box offices and to no surprise, Doctor Strange in the Multiverse of Madness remained atop the standings for a third straight week. The Disney (NYSE:DIS) and Marvel film has now made over $800 million worldwide. The next big threat to Doctor Strange’s reign? Top Gun: Maverick which launches in the US on May 27th. Needless to say, AMC will need the blockbuster releases to continue if it wants to keep moviegoers in the seats.
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD extends gains above 1.0900 amid trade war fears
EUR/USD is extending the rebound above 1.0900 in the early European morning on Thursday. The pair benefits from US President Trump's tariffs-led broad US Dollar weakness. However, further upside appears capped due to escalating trade war fears, with looming EU retaliatory tariffs.
GBP/USD sticks to strong gains near multi-month top, above mid-1.3000s
GBP/USD attracts buyers for the second consecutive day as the USD slumps to a fresh YTD low. Worries about a tariff-driven US economic slowdown lift Fed rate cut bets and weigh on the buck. A breakout through a multi-week-old range supports prospects for further gains for the major.
Gold price buying remains unabated; fresh record highs being set amid risk-off mood
Gold price rallies to an all-time peak amid heightened safe-haven demand on the back of Trump’s reciprocal tariffs. The USD hits a fresh YTD low amid slumping US bond yields and Fed rate cut bets, further supporting the precious metal. Bulls, however, pause for a breather and refrain from placing fresh bets amid bearish divergence on RSI.
Bitcoin price reacts as Gold sets fresh record highs after Trump’s reciprocal tariffs announcement
Bitcoin price plunges towards $82,000 as Gold soars past $3,150 after US President Donald Trump imposed new tariffs on Israel and UK, triggering global markets turbulence.
Trump’s “Liberation Day” tariffs on the way
United States (US) President Donald Trump’s self-styled “Liberation Day” has finally arrived. After four straight failures to kick off Donald Trump’s “day one” tariffs that were supposed to be implemented when President Trump assumed office 72 days ago, Trump’s team is slated to finally unveil a sweeping, lopsided package of “reciprocal” tariffs.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.