AMC Holdings Inc. (AMC) stock continues dipping in the pre-market trade on Friday after falling over 9% on Thursday. The stock plunged 9.07% and traded at $20.66 (-2.06 points) at market close at 4:00 pm EST.
At the time of writing, the AMC stock trades at $20.16, down 0.50 points (-2.42%) in the pre-market trades.
AMC Holdings Inc. (AMC) stock, with a market capitalization of 10.605 billion, opened for trade at $22.65. The stock’s trading volume fell by around 2 billion in the last 24 hours. The average trading volume of the stock is 42,554,323.
AMC stock had a day range between $20.52 and $23.15.
AMC CEO Adam Aron made some tweets disclosing that his sale of the AMC stocks has finished, and he is planning to invest in another 2.3 billion AMC shares.
The stock had surged at the end of the last year after the AMC theatres had a fantastic rollercoaster ride throughout 2021. The AMC stock traded at $26.52 on January 3 but plunged after Swiss National Bank reported increasing its stake in AMC ownership by a whopping 138%. The stock dropped to under $25, trading at $22.75 on January 5, after the news was released.
However, AMC CEO Adam Aron tweeted that AMC will start accepting SHIB and DOGE from around March 2022 for payments. This news stabilized the plunging meme stock as it continued trading in the $22 range for the next few days.
Yet again, the stock plunged heavily on Thursday, falling by 9%, and continues sliding.
The hopeful investors assume this to be yet another short squeeze of the meme stock as it has revived itself many times after a squeeze. The stock hasn’t gone under $20 in the last six months, and investors hope that AMC does not leave its reign.
Investors put their thoughts on Twitter, claiming the plunge to be a short squeeze while the stock became the second-most discussed stock on the social media platform.