Why AMC Entertainment Is Falling Again Today
Shares of AMC Entertainment (NYSE: AMC) continued falling on Wednesday following the company's second-quarter earnings report after the market's close on Monday. Although the movie theater operator beat Wall Street expectations on the top and bottom line, AMC is still producing significant losses. The stock was down 4.4% in midday trading.
Cinemas are slowly climbing out of the very deep hole the pandemic dug for them, but the markets have expressed doubts about AMC's valuation, which has soared because of retail investor support for the heavily shorted movie theater stock.
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Source Fool.com
