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- AMC has reported a loss of over $227 Million over the revenue of $969 Million in the recent quarters.
- AMC stock price is currently seeing a downside trend. It is trading near the value of $5.94
AMC Entertainment holding is one of the largest theater chain and has its headquarter in Kansas. The company was founded in 1920 and has more than 950 theaters and 10500 screens. AMC share price has seen a decline of more than 55% this year. AMC has seen a strong in 2021 when the short squeeze happened. It looks like that the faze of the stock price is ending. In recent quarter AMC has reported a loss of over $227 Million with a revenue of over $969 Million. It has also ended the period with a long term debt. The creditors are reportedly organizing and preparing for the worst.Meanwhile Box office revenue has been picking up steadily which can push the asset price.
AMC has a market cap of 3.049 Billion with a negative EPS. Many analysts are expecting a strong growth in the future.
Will AMC Stock Price Hold The Support Of $4?
AMC stock price is currently seeing a strong downside trend. It has seen a strong drop in the past few weeks.On coming to the daily chart the asset price has seen a loss of 2.14% in the intraday session and is trading near $6.The upside momentum of the asset price can see a halt near $8. Meanwhile the support of the asset price can be seen near $4. AMC stock price is trading below the 50 and 100 Daily Moving Average. There is a negative crossover which can push the price further down..
Conclusion
The faze of meme stock price is currently in a decline. AMC Entertainment has seen a loss in the recent quarter. AMC stock price is currently in a downtrend but can soon move to a new high.
Technical Levels
Major Support:$4
Major Resistance:$6.5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
