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AMC stock bounces, on early track to snap loss streak on an upbeat day for meme stocks

Shares of AMC Entertainment Holdings Inc. (AMC) 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 (link) in the shares tumbled 41.0%. Meanwhile, shares of GameStop Corp. (GME) rose 2.6%. Elsewhere, shares of BlackBerry Ltd. (BB.T) tacked on 0.6%, Clover Health Investments Corp. (CLOV) rose 3.4% and Nokia Corp. (NOKIA.HE) advanced 1.5%. The upbeat start to the week for the group comes as Robinhood Markets Inc. , the no-fee trading app (link) 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%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

 

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07-26-21 1007ET

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