AMC Stock Needs More Fans Than Cheerleaders
It's been a rough run lately for a lot of former market darlings, and meme stocks that skyrocketed higher earlier this year are losing altitude fast. Shares of AMC Entertainment Holdings (NYSE: AMC) have fallen in eight of the past nine trading days, shedding more than 30% of their value in the process.
Even on Monday -- when most stocks that took a beating last week started to show signs of life -- AMC couldn't cling to its initial gains. It's sobering, but the stock is now more than 60% below its June highs. Everyone thinks they've got diamond hands, until they realize they were crafted in cubic zirconia. Everyone wants to enlist in the Ape Army, until things start to go bananas.
Image source: Getty Images.
Source Fool.com
