Black month for AMC ‘meme stock’: it lost almost half of its value in July
AMC, a company dedicated to movie theaters and theaters, as well as a producer of series such as The Walking Dead, is not going through its best moment. After a year where it has lived several days with rises above 100%, driven by the famous Reddit foreros, it accumulates a month of July with strong setbacks.
So much so, that the company has already lost half of its maximum value registered on the stock market. The price of its shares reached its all-time high on June 2, when it ended the session at $62.55 per share. Now, in the absence of an hour for the closing of the markets, its price is around 34 ‘green tickets’, a decrease of 45%.
Since the month of July arrived, AMC Entertainment has ended all sessions in red except for one, the one on July 8. The daily falls have oscillated between 3.85% and 7.7%, waiting for it to confirm its decline this Wednesday, where it is losing more than 11%. In total, in the two weeks of July it has fallen almost 40%.
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Reddit foreros, whose main objective is always to attack bearish positions, may once again see an opportunity at AMC to carry out their actions. It is one of the ‘meme stock’ preferred by this nucleus of investors and the accumulated loss of value in the stock market may encourage them to return to the load.
However, AMC is not the only stock of its kind showing notable setbacks so far in July. Gamestop, the ‘stock meme’ par excellence, lost 19%, while Clover Health or Clean Energy Fuels, also considered in the crosshairs of Reddit foreros, did the same by 34% and 20% respectively. Finally, in the global calculation since the beginning of the year, GameStop and AMC register increases of over 900%, while Clean Energy Fuels does so only 1%. For its part, Clover Health accumulates a drop of 44%.