AMC stock falls premarket, in danger of matching record 12-day losing streak

Shares of AMC Entertainment Holdings Inc. fell 1.3% in premarket trading, putting them in danger of matching their record 12-day losing streak. The movie theater operator’s “meme stock” had tumbled 36.3% over the past 11 sessions. That matched the 11-day losing streak that ended Jan. 5, 2021, in which the stock had dropped 30.5% to close Jan. 5 at $1.98. The stock had ended January 2021 at $13.26, as short interest had climbed to a record at the time of 44.7 million shares during the month. On Thursday, the stock closed at $14.52, and the last reading of short interest was 97.0 million shares. Over the current record 12-day losing that ended June 7, 2019, the stock had lost 18.6%. During the current 11-day losing streak, the stock had opened in positive territory four times and traded in positive territory intraday eight times, and was up more than double-digit percentages twice. On Thursday, the stock was up as much as 13.4% intraday closing down 0.5%. The stock has plunged 58.8% over the past three months through Thursday, while the S&P 500 has lost 5.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.