Why AMC Entertainment Is Falling Again Today
Shares of AMC Entertainment (NYSE: AMC) are sliding 4.5% at 10:41 a.m. ET on Tuesday. There was no news specific to the theater operator, but the drop continues the trend lower it has seen over the past week.
After hitting a recent high of $29.44 per share on March 29, AMC's stock has given up about a quarter of the gains it made on the announcement that the company was investing in a gold and silver miner. The news pushed the stock out of the doldrums it had been in for months as traders anticipated that the "mother of all short squeezes" (MOASS) had arrived, but the upward momentum quickly stalled and now it's resuming its downward trajectory again.
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Source Fool.com
