Why AMC Entertainment Is Falling Today
Movie-theater chain AMC Entertainment (NYSE: AMC) is in the process of giving back last-week's gains. Shares are down 3.5% at 10:32 a.m. ET on Monday.
Last week, AMC announced it took a near-7% stake in movie-advertising outfit National CineMedia. As a result, AMC's stock jumped as much as 21%. Now, however, as the excitement wears off, the movie-theater stock is down to $11.78 per share -- almost where it was trading before any of the gains were made -- even though the broader stock market itself is rising today,
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Source Fool.com
