Shares of AMC Entertainment Holdings Inc. (AMC) slumped 10.8% in afternoon trading, putting them on track to suffer a fourth straight loss in which they shed 38.6%. That would be the longest losing streak since the 11-day losing stretch ended Jan. 5, 2021, in which the stock lost 30.5%. Since the stock closed at $19.90 on Jan. 27, the highest close since October 2018, the stock has now plunged 72.3%. The stock has also now retraced 81.9% of the 754.1% rocket ride from the Jan. 15 close of $2.33 to the Jan. 27 close, as part of the trading frenzy that occurred in a number of heavily shorted stocks ( ), such as GameStop Corp. (GME). AMC's stock has still gained 159.9% year to date, while the S&P 500 has tacked on 4.3%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
February 09, 2021 15:07 ET (20:07 GMT)
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