AMC stock bounces, on early track to snap loss streak on an upbeat day for meme stocks
Shares of AMC Entertainment Holdings Inc.
bounced 6.4% in morning trading Monday, putting them on an early track to snap a three-day losing streak, amid an upbeat day for other meme stocks. AMC shares had dropped 14.2% over the past three days, but since that decline followed a 24.5% surge last Tuesday, the movie theater operator’s stock rose 5.8% last week. That weekly gain snapped a four-week losing streak in the shares tumbled 41.0%. Meanwhile, shares of GameStop Corp.
rose 2.6%. Elsewhere, shares of BlackBerry Ltd.
tacked on 0.6%, Clover Health Investments Corp.
rose 3.4% and Nokia Corp.
advanced 1.5%. The upbeat start to the week for the group comes as Robinhood Markets Inc.
the no-fee trading app that is a favorite of the meme crowd, is set to go public later this week. The gains also come on a mixed day for the broader stock market, as the Russell 2000
rallied 0.8% but the S&P 500
was virtually flat and the Dow Jones Industrial Average
was down 54 points, or 0.2%.