Shares of AMC Entertainment Holdings Inc. hit another intraday low Monday and are on pace to register another all-time closing low.
The stock, which is down 7.8%, traded as low as $3.69, a new all-time intraday low, according to Dow Jones Market Data, based on available data dating back to Dec. 18, 2013. AMC shares
AMC,
are also on pace for another record closing low, after ending Friday’s session at $4.01.
Additionally, the stock is on track for its largest daily percentage decline since Jan. 3, when shares fell 8%.
The recent market performance of AMC’s stock reflects the demise of the movie-theater chain’s meme-stock status. Shares of the chain have hit a series of record lows recently — a sharp contrast with the heady days of the meme-stock frenzy, when the company’s shares surged to an all-time closing high of $339.05 on June 2, 2021, according to Dow Jones Market Data.
See: AMC’s share price is ‘so frustrating,’ and strikes have ‘ruined’ early 2024 box office, CEO says
AMC CEO Adam Aron described last week characterized the recent decline in the company’s share price as “so frustrating.”
AMC shares have fallen 93.8% over the past 52 weeks, compared with the S&P 500 index’s
SPX
gain of 20% in that time.
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