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AMC shares hit longest winning streak since December

Shares of AMC Entertainment Holdings Inc. ended Monday’s trading up 4.1% as the stock extended its winning streak to three days — its longest-such run since a four-day streak that ended on Dec. 28, 2023.

The stock is up four of the past five days, and short interest as a percentage of AMC’s AMC, +4.11% public float of shares was 10.91% on Monday.

Related: AMC’s stock rallies more than 10% for biggest gain since August

The movie-theater chain and original meme stock has hit a series of record lows recently but rallied last week. On Feb. 6, the stock ended the session up 10.9%, registering its biggest single-day percentage gain since Aug. 30, 2023. 

AMC shares hit a record-low close of $3.67 on Feb. 5 — a far cry from the heady days of the meme-stock frenzy, during which the stock surged to an all-time closing high of $339.05 on June 2, 2021, according to Dow Jones Market Data.

Related:AMC’s bonds find buyers while original meme stock slides

Last month, AMC Chief Executive Adam Aron described the recent decline in the company’s share price as “so frustrating.”

AMC shares have fallen 89% in the last 52 weeks, compared with the S&P 500 index’s SPX gain of 21.4%.

Source: marketwatch.com

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