Will This Be a Hollywood Ending to AMC Stock's 10-Day Losing Streak?
A lot of stocks are reeling these days, but few are experiencing the kind of drawdown that AMC Entertainment Holdings (NYSE: AMC) shareholders are feeling. The stock has closed lower for 10 consecutive trading days, shedding 30% of its value along the way.
The carnage gets worse if we look beyond the past two weeks. AMC's close of $15.94 on Wednesday is 78% below the all-time high it hit in early June of last year.
Every losing streak -- just like every run of positive trading days -- has to end eventually. It would be fitting and poetic if the skid ends on Thursday. AMC shareholders are already pretty fond of the Jan. 27 date, as the stock nearly quadrupled on that day last year. The $19.90 close that day didn't initially stick. The shares would be back in the mid-single digits a week later, but the meme stock revolution was born.
Source Fool.com
