AMC's 'APE' stock rallies toward snapping 6-day losing streak

Dow Jones2022-09-03

MW AMC's 'APE' stock rallies toward snapping 6-day losing streak

Shares of AMC Entertainment Holdings Inc.'s AMC Preferred Equity Units were surging 7.4% in afternoon trading Friday, to put them on track for the first gain in seven sessions, and only the third gain since they debuted on Aug. 22. The "APE" shares, which are a nod to investors who turned the movie theater operator into a "meme stock," closed the first day of trading at $6.00 on Aug. 22. It rose 18.8% over the next two sessions, before plunging 35.6% over the next six sessions to close Thursday at $4.59. With Friday's gain, the APEs were still 17.8% below where they closed Aug. 22. Shares of AMC Entertainment, which rose 2.0% on Friday, have lost 16.3% since Aug. 22, while the S&P 500 has lost 4.8%.

-Tomi Kilgore

$(END)$ Dow Jones Newswires

September 02, 2022 13:37 ET (17:37 GMT)

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Comments

SalTheFun
2022-09-05
SalTheFun
Not sure
EunJung
2022-09-03
EunJung
wat happen? Stil can hold?

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Stil can hold?&nbsp;","listText":"wat happen? Stil can hold?&nbsp;","text":"wat happen? 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