Down Nearly 30% in 1 Month, AMC Is Still Not a Buy
AMC Entertainment Group (NYSE: AMC) has seen its stock price fall more than 30% in the last month. It appears some investors are losing enthusiasm for the meme stock. AMC was catapulted to fame when a group of traders got together and encouraged each other to buy and hold its shares. That plan was part of a bigger scheme to force a short squeeze on the stock.
Some might consider this 30% drop a chance to get in on the apparently now-revitalized stock. But for investors who really do take a company's financial and business prospects into consideration, the 30% drop in AMC's stock price still does not make it a buy. Let's take a closer look at why.
Movie theaters were experiencing decreasing attendance even before the pandemic. Image source: Getty Images.
Source Fool.com
